* Commodities hit amid slowing global growth
* Indonesia touches two-week highs after holidays
By Viparat Jantraprap
BANGKOK, Sept 5 (Reuters) - Most Southeast Asian stock markets fell on Monday as dismal U.S. jobs data renewed fears of a U.S. recession, turning regional big caps under selling pressure and commodity stocks pulled lower along with weak global oil prices.
Mounting risks of the impact of slowing global growth on earnings of listed firms prompted investors to cut their positions. Market turnover was off its monthly average.
Traders were sidelined in the absence of indicators from Wall Street which was shut on Monday and as European shares fell, extending their previous session slide.
The region gave back last week's gains with Singapore stocks suffering their biggest losses in two weeks, finishing down 2.5 percent, after a 3.5 percent gain last week.
Singapore was among Asian countries with a higher share of exports to Western countries, that could be hurt if the United States or European economies continued to slow.
Stocks in Malaysia , Thailand and the Philippines posted smaller falls. Vietnam inched up 0.1 percent and Indonesia edged up 0.6 percent, rising as much as 1.8 percent at one point, on resuming trade after holidays last week.
Brokers in the region expect near term market weakness as global economic prospects continue to worsen markedly.
"Much worse than expected U.S. job data last week, which showed no jobs added in August, significantly raised investors' concerns on the U.S. economy in the third quarter," said Bangkok-based KGI Securities strategist Rakpong Chaisuparakul.
Asian stocks fell after U.S. employment data on Friday showed the world's biggest economy failed to create any jobs last month for the first time in nearly a year.
By 0955 GMT, the MSCI's broadest index of Asia Pacific shares outside Japan was trading 3 percent lower.
In a research note dated Sept 5, broker Citi said it has made sharp cuts to U.S., Euro area and U.K. growth, with modest forecast cuts for China and India. Citi is cutting its 2011 global GDP growth forecast to 3.1 percent in 2011, and 3.2 percent in 2012.
Singapore stocks that were largely exposed to the global economy and trade flows were among the hardest-hit. Shares of container shipping firm Neptune Orient Lines (NOL) sunk 5.3 percent.
A drop in brent crude oil on Monday dented sentiment in energy stocks. Thai oil refiner Thai Oil slid 3 percent, Malaysia's palm plantation firm IOI Corp fell 1.9 percent and Perusahaan Gas Negara , Indonesia's biggest gas distributor, plunged 5.9 percent.
Banks, amongst crowded trades in recent weeks, pulled back. Singapore-listed DBS Group Holdings was off 2.8 percent and Thai biggest bank Bangkok Bank was down 1.6 percent. (Additional reporting by Andjarsari Paramaditha in Jakarta and Singapore bureau; Editing by Jason Szep)
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SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2773.17 2843.09 -2.46 Kuala Lumpur 1463.12 1474.09 -0.74 Bangkok 1049.23 1065.18 -1.50 Jakarta 3866.17 3841.73 +0.64 Manila 4382.56 4392.91 -0.24 Hanoi 435.73 435.29 +0.10 Change on year Market Current End prev yr Pct Move Singapore 2773.17 3190.04 -13.07 Kuala Lumpur 1463.12 1518.91 -3.67 Bangkok 1049.23 1032.76 +1.59 Jakarta 3866.17 3703.51 +4.39 Manila 4382.56 4201.14 +4.32 Hanoi 435.73 484.66 -10.10 Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 309,900,300 464,734,897 Kuala Lumpur 128,259,900 171,011,023 Bangkok 3,152,349 5,070,740 Jakarta 2,666,784,500 5,611,952,867 Manila 602,985 688,497 Hanoi 52,711 31,044