SE Asia Stocks-S'pore near 2-week low, Thai, Manila gain

* Mostly lower after sell-off on Wall Street

* S'pore at a near 2-week low, Jakarta extends drops

* Late energy buying help Thai shares

By Ploy Chitsomboon

BANGKOK, Dec 23 (Reuters) - Most Southeast Asian stock
markets fell on Tuesday amid signs of a deepening economic
slump and as investors locked in profits ahead of the year-end
holidays.

"Most markets remain wary of taking big positions," said
Pichai Lertsupongkij, senior strategist with Thanachart
Securities. "With an uncertain global outlook and oil prices
falling, anywhere you look, you see traders taking a long
pause."

Oil prices have fallen below $40 a barrel, hurting oil and
resource firms globally.

Singapore's benchmark Straits Time Index .FTSTI fell 1.2
percent to its lowest close since Dec. 5, with DBS Group
(DBSM.SI), Southeast Asia's largest bank, slipping 3.5 percent
and palm oil giant Wilmar (WLIL.SI) sliding 5.8 percent.
Indonesia's main stock index .JKSE drifted 0.12 percent
lower at the close after earlier touching 1,323.49 points, its
lowest since Dec. 15, with decliners led by a 6.3 percent fall
in PT Astra (ASII.JK), the largest automative distributor, and
a 1.4 percent drop in telecoms giant PT Telkom (TLKM.JK).

In Bangkok, the main index .SETI rose 1.46 percent,
recovering from a 2.9 percent fall on Monday, buoyed by late
buying of oil and gas major PTT PTT.BK, up 1.8 percent, and a
3 percent rise in PTT Exploration and Production PTTE.BK.

In Manila, Philippine Long Distance Telephone Co (TEL.PS),
the country's dominant provider, surged 4.5 percent, lifting
the the index .PSI 1.15 percent.

Malaysia's main stock index .KLSE fell for a third day,
down 0.3 percent, as palm plantation firm Kuala Lumpur Kepong
(KLKK.KL) dropped 2.2 percent and energy services firm KNM
Group (KNMP.KL) lost 3.7 percent.

Other decliners were Sime Darby (SIME.KL), down 1.8 percent
and IOI Corp (IOIB.KL) down 2.8 percent, tracking a 1.5 percent
drop in Malaysian palm oil futures. [nKLR110998]

Vietnam .VNI fell for a fifth day, down 1.97 percent.
($1= 34.58 Baht)
(Editing by Ed Cropley)