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SE Asia Stocks-Tepid ahead of May's Brexit speech; Philippines down for fifth session

By Sandhya Sampath

Jan 17 (Reuters) - Southeast Asian stock markets were tepid

on Tuesday ahead of British Prime Minister Theresa May's speech

outlining plans to exit the European Union as worries of a "hard

Brexit" and uncertainty over Donald Trump's policies pulled back

risk appetite.

Philippines, which has become Asia's best performing

market this year on foreign buying, were on track for their

fifth straight session of losses as foreign investors offloaded

shares.

Investors are on risk-off mode ahead of May's speech later

in the day and Trump's upcoming inauguration, said Victor Felix,

an analyst with AB Capital Securities.

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Britain will not seek a Brexit deal that leaves it "half in,

half out" of the EU, May will say later in the day, according to

her office, in a speech setting out her priorities for impending

divorce talks with the bloc.

Those priorities will include leaving the EU's single market

and regaining full control of Britain's borders, media reported,

reinforcing fears of a "hard Brexit," sending the pound to some

of the lowest levels in more than three decades.

Markets are also wary about U.S. President-elect Trump's

stimulus and reflationary measures post his inauguration, on

Friday.

"Media reports over the weekend mentioned that she was

prepared to make a "hard" exit; maybe they want more specifics

on that. In last week's speech, Trump didn't really flesh out

economic policies, so hopefully post inauguration he will flesh

them out further," Felix said.

Philippine shares fell as much as 0.8 percent,

dragged down by financials and telecom stocks.

"Yesterday's turnover was much lower than the average. There

was net foreign selling and we continue that trend today," Felix

added.

"There is net foreign selling of 100 million pesos ($2.0

million) as of now in the Philippines market."

Property developer SM Prime Holdings Inc fell as

much as 3.1 percent, while telecom services provider PLDT Inc

dropped 2.1 percent.

Singapore fell 0.3 percent, pulled down by

industrials and consumer goods. Palm oil producer Wilmar

International Ltd fell as much as 1.1 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change at 0427 GMT

Market Current Previous Close Pct Move

Singapore 3004.87 3013.12 -0.27

Bangkok 1575.37 1571.80 0.15

Manila 7196.65 7238.45 -0.58

Jakarta 5277.904 5270.011 0.14

Kuala Lumpur 1663.85 1658.84 0.30

Ho Chi Minh 682.41 677.94 0.66

Change this year

Market Current End 2016 Pct Move

Singapore 3004.87 2880.76 4.31

Bangkok 1575.37 1542.94 2.10

Manila 7196.65 6840.64 5.2

Jakarta 5277.904 5296.711 -0.36

Kuala Lumpur 1663.85 1641.73 1.35

Ho Chi Minh 682.41 664.87 2.6

($1 = 49.9090 Philippine pesos)

(Reporting by Sandhya Sampath; Editing by Amrutha Gayathri)