* Singapore up, as banks rally on regional rate cuts
* Risk aversion ahead of U.S. data hits other markets
* Earlier drop in CPO price hits plantation stocks
JAKARTA, Dec 5 (Reuters) - Singapore's Strait Times Index
.FTSTI rose 1.65 percent, led by banks on the back of recent
interest rate cuts in the region, but other markets fell,
fearful of dismal U.S. employment data later in the day.
Singapore's UOB Holdings (UOBH.SI) climbed 1.51 percent,
while Oversea Chinese Banking Corporation (OCBC.SI) rose 0.82
percent.
The Jakarta Composite Index .JKSE lost 0.25 percent,
while the Philippine index .PSI fell 1.93 percent and Vietnam
.VNI dropped 2.9 percent. Thailand's stock exchange was
closed on Friday for King Bhumibol Adulyadej's birthday.
"There's still a lot of selling going on. Investors should
look for exposure only in defensive stocks, try to look for
value picks for long-term exposure," said Kaladher Govindan,
head of research at TA Securities in Kuala Lumpur.
Malaysian crude palm oil price dropped by as much as 4.51
percent as the weaker oil price dampened sentiment in
commodities and energy-related stocks in the region including
Malaysia's palm oil producer Sime Darby (SIME.KL), which fell
2.9 percent.
Indonesia's PT Astra Agro Lestari Tbk (AALI.JK), the
country's largest plantation group, lost 1.86 percent, while
Sampoerna Agro (SGRO.JK) shed 0.95 percent.
Investors in Indonesia also opted to stay sideline ahead of
a long weekend. The market will be closed on Monday for the
Muslim Idul Adha festival.
However some blue chips helped the cushion the fall in the
Indonesian index.
Jakarta's biggest listed company, PT Telekomunikasi
Indonesia Tbk (TLKM.JK), rose 3.45 percent.
Automotive distributor PT Astra International Tbk (ASII.JK)
climbed nearly 4 percent after its unit, PT Toyota Astra Motor
which sells Toyota cars (7203.T), posted stronger sales growth
than the overall market in November.
(Reporting by Harry Suhartono and Soo Ai Peng, editing by Sara
Webb)
