REFILE-SE Asia Stocks-Singapore hits 10-month low on SGX fall

(Refiles to fix coding)

By Ovais Subhani

SINGAPORE, Jan 15 (Reuters) - Southeast Asian stocks fell
on Tuesday with the Singapore index falling to its lowest level
in about 10 months led by losses in bourse operator Singapore
Exchange (SGXL.SI) ahead of its quarterly earnings report.

Singapore's Straits Times Index .FTSTI fell 1.98 percent
to levels last seen in March 2007, with SGX down 7.1 percent to
a near 4-month low before it announced after the close that it
had doubled its net profit in the second quarter.

Elsewhere in the region Jakarta stocks .JKSE dropped 2.86
percent in their biggest single-day fall in about three months.
Malaysian shares .KLSE ended virtually unchanged, the
Philippine index .PSI closed 1.0 percent lower and Vietnam
stocks .VNI slipped 3.83 percent.

Thai shares .SETI lost 1.44 percent, with PTT PCL
PTT.BK falling by about 2.4 percent after Finance Minister
Chonlongphob Sussangkarn said the government might raise the
top energy firm's gas pipeline fee from 5 percent of revenues.

Losses in Singapore Exchange (SGX) were blamed by dealers
on fears of decreasing trade volumes in coming quarters.

Southeast Asia's top bourse operator, said its quarterly
net profit almost doubled to beat expectations, driven by a
surge in trading of stocks and derivatives.

SGX, which ranks behind Hong Kong Exchanges and Clearing
(HKEx) (0388.HK) among Asia's listed bourses, posted a
second-quarter net profit of S$122.4 million ($86 million)
compared to S$63.7 million a year ago.

Losses in Indonesia were led by Telkom Indonesia TLKM.KL,
down 5.6 percent, amid rumours that the government was likely
to cut the interconnection charges that telecom firms pay each
other for sharing networks and other infrastructure.

CIMB analyst Kelvin Goh said lower interconnection charges
would mean smaller interconnection revenue for Telkom which
owns the country's largest mobile phone operator Telkomsel.

"Telkomsel would be negatively affected being a net
receiver of minutes, but fixed lines will benefit from lower
interconnection charges to mobile," Jakarta-based Goh said.

In Kuala Lumpur bourse operator Bursa Malaysia (BMYS.KL)
fell 5.7 percent. The stock has been sold since Monday when it
announced that it has not concluded any tie-up with any
potential strategic partner.

A local business weekly had reported at the weekend that
Bursa was believed to have started talks with NYSE Euronext
(NYX.N), the parent of the New York Stock Exchange, on a
possible tie-up.

On Tuesday Bursa signed a pact with the Dubai Gold and
Commodities Exchange (DGCX) to jointly develop derivatives
markets in both Malaysia and the United Arab Emirates.