SE Asia Stocks-Down on oil prices, renewed Europe worries

* Manila touches record high, then falls

* Banks lead declines in Jakarta, Kuala Lumpur

* Singapore at lowest close since Feb. 10

* Foreign buying seen in Malaysia; outflow in Jakarta

By Shihar Aneez

Feb 23 (Reuters) - Southeast Asian stock markets fell
on Thursday on fears over rising oil prices and a possible
recession in the euro zone with lingering concerns over Greek
sovereign debt crisis still undermining the appetite for risky
assets.

The region's markets, following others in Asia, fell for a
second day, with MSCI's broadest index of Asia Pacific shares
outside Japan down 0.5 percent down and the MSCI
index for Southeast Asia 0.3 percent weaker at
0852 GMT.

"I think the question of 'what's next' is bothering
investors than anything else at the moment," said Song Seng Wun,
Singapore-based regional economist for CIMB-GK Research.

"The rising oil prices have been a concern, which creates
worry about if energy commodity costs may add to the worries
about slower growth," he said.

Analysts said positive reaction for the $130 billion second
Greek bailout package has evaporated on doubts if it could
really help to fix the shattered economy.

Economic data from Europe showed the region's services and
manufacturing sectors are shrinking, which could result in a
recession in the bloc, while oil price jump due to the Iranian
nuclear row have dampened the investor apatite for risky assets.

Singapore fell 0.9 percent for its lowest close
since Feb. 10. Indonesia also lost 0.9 percent, to a
one-week low, and had a $13.4 million foreign outflow.

The Philippines hit a fresh record high of 4,997.04
in early trade, topping a peak of 4,966.94 reached on Monday,
but then retreated on profit-taking. It slipped 0.8 percent for
the day.

Malaysia ended 0.3 percent down, but foreign
investors bought a net $35 million of shares, data from the
country's bourse showed.

Bucking the trend, Thailand recouped its early
losses to end 0.2 percent firmer, while Vietnam closed
1.3 percent higher.

DISAPPOINTING EARNINGS

In Singapore, disappointing earnings also hit the sentiment
after Singapore's Neptune Orient Lines Ltd, the
world's sixth largest container shipping firm, reported a
larger-than-expected fourth quarter loss due to high fuel costs
and lower freight rates.

"Investors are getting more jittery, as we saw several
corporate earnings from large blue chips that were quite
disappointing," said Andrew Chow, head of research at UOB Kay
Hian, citing results from palm oil firm Wilmar International Ltd
on Wednesday and Neptune Orient.

Neptune closed 5.6 percent weaker after plummeting 11.2
percent in early trade, while Wilmar ended 1.2 percent down.

Analysts said the market will consolidate at a lower level
said due to profit taking and concerns over the healthy recovery
of the global economy.

Financials pulled down Jakarta and Kuala Lumpur, led by a
2.3 percent fall in Indonesia's largest lender Bank Mandiri
and 1.1 percent loss for Malaysia's CIMB Group
.

Late buying in banks helped Bangkok erase early losses with
Thailand's fourth-largest lender Kasikornbank and
leader Bangkok Bank Pcl gaining 1.8 percent and 1.4
percent respectively.

Shares in Thailand's top coal miner, Banpu Pcl,
fell 1.5 percent after it reported a 28 percent decline in
quarterly profit.

SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 2968.34 2995.59 -0.91
Kuala Lumpur 1556.66 1560.52 -0.25
Bangkok 1140.07 1138.50 +0.20
Jakarta 3958.81 3995.02 -0.91
Manila 4893.48 4934.29 -0.83
Ho Chi Minh 423.89 418.41 +1.31

Change on year
Market Current End prev yr Pct Move
Singapore 2968.34 2646.35 +12.17
Kuala Lumpur 1556.66 1530.73 +1.69
Bangkok 1140.07 1025.32 +11.19
Jakarta 3958.81 3821.99 +3.58
Manila 4893.48 4371.96 +11.93
Ho Chi Minh 423.89 351.55 +20.58

Stock Market Volume (shares)
Market Current Volume Average Volume 30 days
Singapore 601,105,000 413,631,280

Kuala Lumpur 174,455,700 133,431,147

Bangkok 4,685,222
4,379,957
Jakarta 3,038,917,500 3,432,051,400
Manila 127,864 131,320
Ho Chi Minh 67,368 41,350

(Additional reporting Singapore bureau; Editing by Richard
Borsuk)