SE Asia Stocks-Philippines falls most in 2 weeks

* Investors await U.S. Fed decision, Sino-U.S. trade talks

* Malaysia down 0.4 pct, exports to China contract

By Mensholong Lepcha

Jan 30 (Reuters) - Most Southeast Asian stock markets fell

on Wednesday, with Philippine shares recording their worst fall

in two weeks, as investors awaited a U.S. Federal Reserve rates

review and key Sino-U.S. trade talks.

The Fed is widely expected to leave rates unchanged on

Wednesday, as policymakers had made it clear that they plan a

"patient" pause in rate hikes.

The central bank is taking a wait-and-see approach to

further tightening in the face of a global economic slowdown,

U.S. federal government shutdown, trade tensions and waning

business and consumer confidence.

Adding to investor caution is the start of a crucial round

of Sino-U.S. trade talks on Wednesday and Thursday.

Philippine shares fell as much as 1.7 percent on

profit-taking before recovering partially to close 0.9 percent

lower.

"We are seeing sales of shares of companies with large

institutional following, investors are now being cautious about

what will happen in the U.S. Fed meeting," said Rachelle Cruz, a

research analyst at AP Securities in Manila.

Cruz said a lot of funds from the profit-taking were

invested in "third-liner stocks", with Premiere Entertainment

emerging as one of the most actively traded stocks

after a funding deal worth 15 billion pesos ($286.67 million)

with a Qatar-based investment management firm.

Index heavyweights BDO Unibank Inc and SM Prime

Holdings lost 2.4 percent and 1.5 percent,

respectively, while Premiere Entertainment closed at its highest

level since November 1997.

Malaysian shares fell 0.4 percent, dragged by

utility and basic material stocks.

Effects of the Sino-U.S. trade war were seen with data

showing Malaysia's exports to China, a major trading partner,

contracted 0.5 percent annually in December, while shipments to

the United States surged 13.5 percent.

Singapore shares closed 0.4 percent lower, with DBS

Group Holdings and Singapore Press Holdings

falling 1.2 percent and 2.4 percent, respectively.

Meanwhile, Thai shares gained 0.5 percent, with PTT

Exploration and Production emerging as the top boost

to the index after the company posted an 88.6 percent rise in

full-year profit.

PTT Exploration and Production rose 2.1 percent, while

Airports of Thailand gained 1.5 percent.

($1 = 52.3250 Philippine pesos)

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Singapore 3174.38 3187.69 -0.42

Bangkok 1632.6 1624.05 0.53

Manila 7979.95 8050.82 -0.88

Jakarta 6464.189 6436.48 0.43

Kuala Lumpur 1684.11 1690.41 -0.37

Ho Chi Minh 915.84 915.93 -0.01

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3174.38 3068.76 3.44

Bangkok 1632.6 1563.88 4.39

Manila 7979.95 7,466.02 6.88

Jakarta 6464.189 6,194.50 4.35

Kuala Lumpur 1684.11 1690.58 -0.38

Ho Chi Minh 915.84 892.54 2.61

(Reporting by Mensholong Lepcha; Editing by Subhranshu Sahu)