SE Asia Stocks-Mostly lower; Singapore falls for fifth day

* Banking and telecom shares lead losers

* Vietnam bucks trend, eking out small gain

By Viparat Jantraprap

BANGKOK, June 17 (Reuters) - Southeast Asian stock markets
fell on Wednesday as investors took profits from a recent rally
in financial and telecom shares, with Singapore's DBS,
Malaysia's Axiata and Indonesia's Bank Central Asia among
losers.

Doubts about the global economic recovery fuelled the
sell-off and dealers said the selling would continue.

"I think we're likely see more profit-taking in the region.
Economic indicators remain weak and are not supportive of any
further rally in stock prices," said Viwat Techapoonphol, a
strategist at Tisco Securities in Bangkok.

By 1007 GMT, the MSCI index of Asia-Pacific stocks outside
Japan .MIAPJ0000PUS was down 1.4 percent while U.S. futures
pointed to a lower start on Wall Street.

Singapore's main stock index .FTSTI fell for a fifth day,
ending down 0.7 percent at a three-week low, Malaysia .KLSE
and Indonesia .JKSE both lost 0.3 percent, while the
Philippines .PSI dropped 2.9 percent.

Thailand's SET Index .SETI lost 1.7 percent, extending
its fall into a third day, but Vietnam .VNI bucked the trend,
eking out a small gain of 0.11 percent.

Investors unloaded banking and telecommunications stocks
that have led the regional rally over the past three months.

In Singapore, DBS Group (DBSM.SI), the biggest lender, fell
1.4 percent and Singapore Telecommunications (STEL.SI), the
largest telecom firm, lost 0.7 percent.

Telecommunication stocks led decliners in Kuala Lumpur,
with Axiata Group (AXIA.KL) sliding 2.2 percent and Astro All
Asia (AAAN.KL) easing 2.7 percent.

In Bangkok, Kasikornbank KBAN.BK dropped 3.4 percent and
Bangkok Bank BBL.BK was down 2.4 percent.

In Jakarta, Bank Central Asia (BBCA.JK) slid 5.9 percent
and Bank Rakyat (BBRI.JK) was down 2.4 percent. In Manila,
Philippine Long Distance Telephone (TEL.PS) was 3 percent lower
and Manila Electric (MER.PS) slumped 9.3 percent.

One bright spot was Vietnamese fertiliser maker PVFCCo
DPM.HM, which climbed 4.9 percent.

Oil rose back towards $71 a barrel and that encouraged some
bargain-hunting in laggard energy and commodity stocks, with
Indonesian gas distribution firm Perusahaan Gas Negara
(PGAS.JK) up 2.5 percent and Thai utility firm Glow Energy
GLOW.BK up 2.4 percent.
($1=34.14 Baht)
(Editing by Alan Raybould)