* Vietnam falls the most, down 1.8 pct * Philippines snaps 3 sessions of gains * Malaysia posts over 2-wk closing high By Karthika Suresh Namboothiri May 16 (Reuters) - Most Southeast Asian stock markets declined on Wednesday, tracking Asian peers, after Pyongyang called off talks with Seoul, throwing a major U.S.-North Korean summit into question. Investor sentiment was also subdued as surging 10-year U.S. Treasury yields sparked fears of faster fund outflows from regional equities. "If bonds are embarked on a journey to higher yields, then the recent outflows from troubled EM (emerging markets) countries could become even greater," ING said in a note. Asian shares ex-Japan slipped 0.03 percent. In Southeast Asia, Philippine stocks ended 0.2 percent lower as investors booked some profits following three straight sessions of gains. A fall in March remittances also hurt sentiment, said Charles William Ang, an associate analyst at Manila-based COL Financial Group Inc. Remittances in March fell 9.8 percent from a year earlier, the steepest in 15 years, according to data released by the central bank on Tuesday. Industrial stocks took the biggest beating with SM Investment closing 1.5 percent lower. Vietnam shares closed 1.8 percent lower after shedding nearly 2 percent in intraday trading. Meanwhile, Indonesian shares erased early falls to close slightly higher. Losses in consumer stocks were outweighed by gains in the telecom sector. Unilever Indonesia closed more than 3.5 percent lower, while Telekomunikasi Indonesia rose 3.3 percent. Bank Indonesia will raise its key interest rate on Thursday to support the rupiah and stabilise domestic markets, a majority of economists in a Reuters poll said. Rating agencies have warned of repercussions from prolonged pressures to the Indonesian markets. Moody's said if the weakness in currency and bonds persists, it would be credit negative for sovereign ratings. Malaysia climbed 0.5 percent to close at its highest level in more than two weeks. A strategy for the removal of goods and services tax will be announced within 100 days, a senior adviser to the Malaysian government said on Tuesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3533.05 3540.23 -0.20 Bangkok 1750.62 1766.86 -0.92 Manila 7869.56 7885.97 -0.21 Jakarta 5841.464 5838.116 0.06 Kuala Lumpur 1858.26 1848.2 0.54 Ho Chi Minh 1054.62 1073.5 -1.76 Change on year Market Current End 2017 Pct Move Singapore 3533.05 3402.92 3.82 Bangkok 1750.62 1753.71 -0.18 Manila 7869.56 8558.42 -8.05 Jakarta 5841.464 6355.654 -8.09 Kuala Lumpur 1858.26 1796.81 3.42 Ho Chi Minh 1054.62 984.24 7.15 (Reporting by Karthika Suresh Namboothiri; Editing by Subhranshu Sahu)