SE Asia Stocks-Subdued as investors eye G7 summit, Fed move

* Malaysia notches up biggest weekly gain in 7 weeks

* Vietnam closes higher for 7th straight session

* Investors keep an eye out for G7, Fed moves

By Mensholong Lepcha

June 8 (Reuters) - Southeast Asian stock markets lost ground

on Friday with investors taking a cautious approach ahead of the

Group of Seven (G7) summit this weekend and on expectations of

another U.S. interest rate hike.

Global risk appetite took a hit after U.S. jobless claims

pointed to a further tightening in the labour market, cementing

expectations the Fed will raise benchmark rates next week and

twice again later in the year.

The widening rift between the United States and its major

trade partners after President Donald Trump imposed import

tariffs on steel and aluminium imports last week spurred

concerns ahead of the two-day G7 meet in Quebec.

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

fell 1.5 percent, though the index finished the

week on a high for the first time in three weeks.

"It's probably a technical weakness since there was no big

data (in southeast Asia) this week," said Joel Ng, an analyst at

KGI securities.

The Indonesian index was the worst performer in the

region, ending 1.9 percent lower, led by financial stocks.

Bank Central Asia, Indonesia's largest company by

market capitalization, fell 3.2 percent.

However, the Jakarta index gained 0.2 percent for the week,

extending gains to a third straight week.

Singapore shares fell 1.1 percent on Friday, but

ended a third spell of weekly losses. Lenders OCBC and

United Overseas Bank lost 2 percent each.

Philippine shares closed 0.8 percent lower, but ended

the week up 1.5 percent.

Financial, real estate and industrial stocks pushed the

index lower. Real estate firm Ayala Land fell 2.4

percent, while SM Investments dropped 1.5 percent.

Malaysian shares ended lower, but clocked their

biggest weekly gain in seven, climbing 1.3 percent.

Thai shares fell 0.6 percent, dragged by energy

stocks, with PTT Pcl and PTT Exploration and Production

losing over 2 percent each.

Vietnam was the sole gainer, reversing early losses

to end higher for a seventh session, led by banks. It rose 4.7

percent during the week, its biggest such gain since

mid-February.

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SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous Pct Move

close

Singapore 3436.37 3473.08 -1.06

Bangkok 1722.04 1733.05 -0.64

Manila 7740.74 7803.31 -0.80

Jakarta 5993.627 6106.698 -1.85

Kuala Lumpur 1778.32 1785.81 -0.42

Ho Chi Minh 1039.01 1036.69 0.22

Change on year

Market Current End 2017 Pct Move

Singapore 3436.37 3402.92 0.98

Bangkok 1722.04 1753.71 -1.81

Manila 7740.74 8558.42 -9.55

Jakarta 5993.627 6355.654 -5.70

Kuala Lumpur 1778.32 1796.81 -1.03

Ho Chi Minh 1039.01 984.24 5.56

(Reporting by Mensholong Lepcha; Editing by Sunil Nair)