SE Asia Stocks-Profit-taking sends Philippines, Vietnam markets down

HANOI, Sept 9 (Reuters) - Most Southeast Asian stock markets

lost ground on Tuesday, led by Philippine and Vietnamese shares,

amid widespread profit booking after strong increases in the

past sessions.

The Philippine SE Composite Index retreated 0.84

percent from a 15-month high, led by property firm Ayala Land

with a 3.32 percent decline.

Vietnam's benchmark VN Index pared all of its gains

over the past two weeks, dropping 2.02 percent as investors

secured profits from most equities.

Southeast Asia's best performer has been bullish after

strong inflows boosted Vietnamese shares, which have surpassed a

high of nearly five years.

Tuesday's falls lowered the relative strength indexes of

both Philippine and Vietnamese markets to below 70, removing

them from an overbought territory, Reuters data showed.

Foreign investors turned net sellers of 123 billion rupiah

($10.45 million) worth of Indonesian shares, which

declined 0.94 percent after hitting a record closing high for

the second time in a month on Monday.

Investors on the Jakarta bourse have expected higher fuel

prices following a potential cut in subsidies by the government,

which aims at limiting the country's current account deficit.

Singapore's FTSE Straits Times Index outperformed

the regional market on gains in the baking sector.

The city-state has been lagging the regional markets despite

being Southeast Asia's cheapest equities.

FTSTI has gained 5.54 percent since the beginning of the

year, far below top risers Vietnam at 24.23 percent and the

Philippines at 23.16 percent.

Singaporean stocks' price-to-earnings ratio humbles at

14.02, compared with the most expensive Philippines at 21.55.

Thailand and Malaysia moved in tight range

amid moderate volumes.

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SOUTHEAST ASIAN STOCK MARKETS

Change at close

Market Current Prev Close Pct Move

TR SE Asia Index* 445.77 448.93 -0.70

Singapore 3342.96 3335.19 +0.23

Kuala Lumpur 1874.12 1871.09 +0.16

Bangkok 1583.18 1584.77 -0.10

Jakarta 5197.12 5246.483 -0.94

Manila 7253.67 7314.94 -0.84

Ho Chi Minh 626.92 639.85 -2.02

Change on year

Market Current End 2013 Pct Move

TR SE Asia Index* 445.77 388.37 +14.78

Singapore 3342.96 3167.43 +5.54

Kuala Lumpur 1874.12 1866.96 +0.38

Bangkok 1583.18 1298.71 +21.90

Jakarta 5197.12 4274.18 +21.59

Manila 7253.67 5889.83 +23.16

Ho Chi Minh 626.92 504.63 +24.23

* The Thomson Reuters South East Asia Index is a

highly representative indicator of stocks listed in Indonesia,

Malaysia, the Philippines, Singapore, Thailand and Vietnam.

($1=11,765 Indonesian rupiah)

(Reporting by Mai Nguyen; Editing by Biju Dwarakanath)