* S'pore close to 3-week low; Malaysia near 1-week low
* Thailand, Indonesia fall for 2nd day to near 2-week lows
By Viparat Jantraprap
BANGKOK, June 16 (Reuters) - Southeast Asian stock markets
fell on Tuesday, worried about the pace of recovery in the
global economy, with Singapore tumbling to near three-week lows
while stocks in Jakarta and Bangkok slid close to two-week
lows.
Markets in the region would remain under pressure as
investors were sceptical about the recent rally, analysts said.
"Many markets in Asia turned up slightly in late trade
simply because investors took their lead from Dow Jones futures
and oil prices," Kosin Sripaiboon, head of research at UOB Kay
Hian Securities, said.
"Markets will remain cautious in coming sessions as
investors are less optimistic over the global recovery," he
said.
U.S. futures pointed to a flat to lower start on Wall
Street on Tuesday, while oil edged up towards $71 a barrel as
the dollar slid after Russia said the world needed new reserve
currencies.
The MSCI index of Asia-Pacific stocks outside Japan
.MIAPJ0000PUS was down 1.23 percent by 1008 GMT.
Singapore .FTSTI dropped 1.2 percent to its lowest since
May 28, recouping part of an early 2.2 percent loss, while
Indonesia .JKSE and Thailand .SETI, each earlier near
two-week lows, fell 1.9 percent and 2.7 percent respectively.
Vietnam .VNI dropped 4.4 percent to its lowest level in
two weeks, extending its losses into a third day.
Malaysia .KLSE snapped a four-day rally, falling 1.6
percent to its lowest since June 9, and Manila .PSI ended a
three-day winning streak, down 1.6 percent.
In Singapore, CapitaLand (CATL.SI) fell 2.2 percent and DBS
Group (DBSM.SI) lost 1.3 percent. Singapore Airlines (SIAL.SI)
slid 1.1 percent after it said it filled 62.8 percent of the
space available on its planes for passengers and cargo in May.
But SingTel (STEL.SI) gained 4.1 percent to S$3.02 after
UBS upgraded the stock to "buy" from "neutral", citing a
positive outlook from its subsidiaries in India and Indonesia,
and raised its target price to S$3.38 ($2.32) a share from
S$2.94.
In Kuala Lumpur, top lender Maybank (MBBM.KL) fell 4.1
percent and palm plantation firm Sime Darby (SIME.KL) dropped
2.8 percent. In Jakarta, Bank Rakyat Indonesia (BBRI.JK) fell
5.2 percent and telecommunications firm Telekomunikasi
Indonesia (TLKM.JK) fell 2.6 percent.
In Bangkok, PTT (PTT.BK), the biggest energy firm, fell 3.2
percent and Bangkok Bank BBL.BK, the biggest bank, lost 3.3
percent.
Philippine conglomerate Ayala Corp (AC.PS) fell 4.2 percent
and Vietnam's Ben Tre Aquaproduct Import & Export Co. ABT.HM
lost 4.7 percent.
($1=34.18 Baht)
(Editing by Alan Raybould)
