SE Asia Stocks-Singapore hits one-week low, DBS tumbles

* Singapore hits 1-week low; DBS among losers

* Thai, Indonesian shares fall; Malaysia rises

* Weak U.S. job data hurts sentiment

By Viparat Jantraprap

BANGKOK, Jan 12 (Reuters) - Singapore shares fell to a
one-week low on Monday amid worries about DBS Group's exposure
to a defaulting Kuwaiti lender, and most other Southeast Asian
markets dropped on fears of a deepening U.S. recession.

Singapore's index .FTSTI fell for a fifth day, down 1.7
percent to its lowest since Jan. 2, with bank DBS Group
(DBSM.SI) sliding 3.7 percent on speculation about its exposure
to Global Investment House (GLOB.KW), even though DBS denied
any exposure. [nSIN425090]

Oil rig builders and shipping stocks also dropped after
several contract cancellations, fuelling fears about orders in
a sector hit by weak economic growth and falling oil prices.

"Today's fall is attributed to very specific factors, that
is, the bad news on Keppel and Sembcorp," said Gabriel Yap,
senior dealing director for DMG & Partners.

Sembcorp Marine (SCMN.SI) slid 12.5 percent and industry
leader Keppel Corp (KPLM.SI) fell 8.9 percent after oil
services firm Seadrill (SDRL.OL) said it would postpone
payments for rigs from both firms and after Keppel reported a
$405 million rig order cancellation on Friday.

Elsewhere in the region, weak U.S. December non-farm
payrolls triggered concerns about the outlook for Asian
exporting countries, outweighing expectations of stronger
domestic consumption as regional governments planned to spend
more.

"Sentiment on the U.S. job data was negative although
investors remain hopeful for spending by local governments,
which has kept stocks from falling in recent sessions," said
Warut Siwasariyanon, head of research at Finansa Securities.

In Bangkok, the main stock index .SETI lost 1.4 percent
to its lowest since Dec. 30 amid further selling of shares in
PTT group PTT.BK after its warning last week of larger than
expected fourth-quarter losses. Its shares fell 5.08 percent.

Its units also extended their falls from Friday, with PTT
Exploration and Production PTTE.BK sliding 2.8 percent and
Thai Oil TOP.BK, Thailand's biggest refiner, losing 4.5
percent.

In Jakarta, the index .JKSE ended down 0.7 percent,
eating into a 1 percent rise on Friday, with Telkom Indonesia
(TLKM.JK) down 2.1 percent and Bumi Resources (BUMI.JK) 9.5
percent lower.

Malaysia bucked the trend and its index .KLSE ended up
0.5 percent, adding to a 0.94 percent rise on Friday, with
outperformers including Telekom Malaysia (TLMM.KL), up 4.6
percent, and fourth-largest lender RHB Capital (RHBC.KL), up
1.95 percent.
($1=34.92 Baht)
(Additional reporting by Saeed Azher in Singapore; Editing by
Alan Raybould)