SE Asia Stocks-Most markets slip on lingering trade worries

* Indonesia braces for prolonged pressure as rupiah slides -

FM

* Malaysia extends declines, Philippines recovers from falls

By Sumeet Gaikwad

Sept 4 (Reuters) - Most Southeast Asian stock markets edged

lower on Tuesday, in line with broader Asia, amid tensions

around global trade and as emergency austerity measures in

Argentina highlighted turbulence in emerging markets.

U.S. President Donald Trump gave fresh impetus to trade

worries when he said on Saturday there was no need to keep

Canada in the North American Free Trade Agreement and warned

Congress not to meddle with the trade talks or he would

terminate the trilateral trade pact altogether.

Trump was also reported to have said he is ready to impose

tariffs on an additional $200 billion worth of imports from

China as soon as a public comment period on the plan ends on

Thursday.

"Some investors were looking at the NAFTA renegotiation as a

bellwether for how far the U.S. is willing to take its trade

spat with China," Argonaut said in a note.

Growing turbulence in Argentina once again focused global

attention on emerging markets. On Monday, Argentine President

Mauricio Macri announced new taxes on exports and steep cuts to

government spending in what he termed "emergency" measures to

balance next year's budget.

MSCI's broadest index of Asia-Pacific shares outside Japan

was down 0.7 percent.

In Southeast Asia, Indonesian shares slipped,

dragged by telecom and material stocks. Telekomunikasi Indonesia

fell as much as 1.2 percent, while consumer products

maker Unilever Indonesia declined nearly 1 percent.

Meanwhile, Finance Minister Sri Mulyani Indrawati said the

country was bracing for prolonged pressure on the rupiah amid

souring emerging market sentiment.

The rupiah hit 14,825 per dollar on Monday, the

weakest since the Asian Financial Crisis two decades ago, before

closing at 14,810. It has lost nearly 9 percent this year.

An index of the country's 45 most liquid stocks

was down 0.6 percent.

Malaysian shares declined for a fourth straight

session with telecom stocks leading the fall. Axiata Group

and Digi.Com fell nearly 2 percent and 1

percent, respectively.

Singapore shares were largely flat as losses in real

estate stocks were offset by gains in consumer stocks. Property

investor Hongkong Land Holdings fell 0.6 percent,

while Golden Agri-Resources Ltd rose 1.7 percent.

Philippines shares rose after four straight sessions

of declines, led by gains in consumer discretionary and

financial stocks.

Fast-food restaurant operator Jollibee Foods

climbed 1.1 percent, while Ayala Land added 0.8

percent.

The archipelago is due to report August inflation data on

Wednesday. The central bank said on Friday annual inflation in

August was likely to hit around 5.9 percent, the highest in more

than nine years.

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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0334GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3205.15 3207.2 -0.06

Bangkok 1718.08 1721.21 -0.18

Manila 7858.46 7832.22 0.34

Jakarta 5939.55 5967.579 -0.47

Kuala Lumpur 1812.02 1813.58 -0.09

Ho Chi Minh 989.59 989.54 0.01

Change on year

Market Current End 2017 Pct Move

Singapore 3205.15 3402.92 -5.81

Bangkok 1718.08 1753.71 -2.03

Manila 7858.46 8558.42 -8.18

Jakarta 5939.55 6355.654 -6.55

Kuala Lumpur 1812.02 1796.81 0.85

Ho Chi Minh 989.59 984.24 0.54

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by

Subhranshu Sahu)