* Philippines marks worst session in 3 weeks * Indonesia hits lowest in over 2 weeks * Financials, industrial sectors weigh on Singapore index By Sameer Manekar Jan 6 (Reuters) - Philippine stocks fell more than 1% on Monday as soaring oil prices stoked fears of inflationary pressure for the net oil importing nation, while other Southeast Asian markets were also in the red due to heightened Middle East tensions. Oil prices shot more than 2% higher and Brent rose above $70 a barrel after U.S. President Donald Trump threatened to impose sanctions on Iraq and retaliate against Iran if it strikes back after the killing of its top commander. Trump's threat against Iraq, the second largest producer among the OPEC, comes after its parliament voted in favour of expelling U.S. troops. The Philippine benchmark index slipped as much as 1.8%. Real estate firm SM Prime Holdings shed 1.3%, while lender BDO Unibank lost 1.1%. "The escalating tensions between the United States and Iran will be a big factor on inflation in the Philippines. Since it is a net oil importer, any significant oil rally would affect both inflation and the currency," Rachelle Cruz, analyst at AP Securities said. "For stock markets, any weakness in the currency would be a deterrent for foreign investors." The Philippine peso weakened 0.2% against the dollar. Malaysian shares shed 0.9% as banking and consumer stocks weighed. Malayan Banking Bhd fell 0.9% and Sime Darby Plantations 1.6%. Indonesian equities fell as much as 1.1%, their biggest intraday fall in over a month. Financials and consumer firms were the biggest drags, with Bank Central Asia and Bank Rakyat Indonesia losing 1% and 1.1%, while Unilever Indonesia shed 1.2%. An index of Jakarta's 45 most liquid stocks fell as much as 1.5%. Thai stocks fell the most since Dec. 16, with Kasikornbank PCL and Airports of Thailand losing 3.6% and 1.7%. Financial and industrial sectors weighed on Singapore's benchmark index. Heavyweights United Overseas Bank and Jardine Strategic Holdings were down 0.8% and 1.2%, respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0341 GMT Change on the day Market Current Previous close Pct Move Singapore 3221.87 3238.82 -0.52 Bangkok 1582.55 1594.97 -0.78 Manila 7732.82 7839.79 -1.36 Jakarta 6289.85 6323.466 -0.53 Kuala Lumpur 1596.38 1611.38 -0.93 Ho Chi Minh 959.09 965.14 -0.63 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3221.87 3222.83 -0.03 Bangkok 1582.55 1579.84 0.17 Manila 7732.82 7,815.26 -1.05 Jakarta 6289.85 6,299.54 -0.15 Kuala Lumpur 1596.38 1588.76 0.48 Ho Chi Minh 959.09 960.99 -0.20 (Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)
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