SE Asia Stocks-Philippine shares slump 2 pct, move further into bear territory

    * Philippine shares hit lowest in nearly 18 months
    * Malaysian shares down for ninth straight session

    By Nicole Pinto
    June 21 (Reuters) - Philippine shares slumped 2 percent on
Thursday and moved further into bear territory on persistent
foreign investor selling, largely sparked by a weak peso which
hit a 12-year low earlier this week.
    The Philippine Stock Exchange PSEI Index hit its
lowest since January 2017, shedding over 20 percent from a
record high of 9,078.37 touched on Jan. 29. The last time the
index fell over 20 percent was between April 2015 and January
2016, when it shed 25 percent.
    The Relative Strength Index entered oversold territory,
declining below 30 for the first time since April.
    "We breached 7,200 support, so the likelihood is large that
the market may retest the 7,000 mark in a month. We can get some
rally towards the end of the year due to the traditional window
dressing for the quarter-end," said Manny Cruz, an analyst with
Asiasec Equities Inc.
    The Philippine central bank raised interest rates after
market hours on Wednesday and said it was ready to take further
action to tame inflation and volatility in the peso. The peso
 fell 0.27 percent on Thursday against the U.S. dollar.

    Other Southeast Asian stock markets also fell. Thai shares
 declined as much as 1.4 percent and were headed for a
sixth session of loss in seven. 
    The baht slid as much as 0.5 percent on Thursday to
its lowest since mid-November, a day after the central bank held
its benchmark interest rate and raised its forecasts for growth
and exports this year.
    Material and energy stocks fell, with PTT PCL down
1.5 percent and PTT Global Chemical PCL 3.9 percent
    Vietnam shares shed as much as 1.5 percent. Vingroup
JSC fell 2.2 percent, while Petrovietnam Gas Joint
Stock Corp declined 3.8 percent. 
    Malaysian shares fell 1.2 percent to their lowest
since February 2017 and were on track for a ninth consecutive
session of decline. 
    Telecom stocks Axiata Group and Telekom Malaysia
 fell 4.1 percent and 11.9 percent, respectively. 
    Indonesian shares gave up early gains to trade
marginally lower. Pabrik Kertas Tjiwi Kimia Tbk PT
jumped 5 percent to a record, while Astra International Tbk PT
 slipped 2.2 percent.   
    For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous Close  Pct Move
 Singapore          3307.62   3315.9          -0.25
 Bangkok            1644.28   1664.26         -1.20
 Manila             7134.41   7261.62         -1.75
 Jakarta            5869.211  5884.039        -0.25
 Kuala Lumpur       1691.28   1709.75         -1.08
 Ho Chi Minh        967.05    980.95          -1.42
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3307.62   3402.92         -2.80
 Bangkok            1644.28   1753.71         -6.24
 Manila             7134.41   8558.42         -16.64
 Jakarta            5869.211  6355.654        -7.65
 Kuala Lumpur       1691.28   1796.81         -5.87
 Ho Chi Minh        967.05    984.24          -1.75

 (Reporting by Nicole Pinto; Additional reporting by Gaurav
Dogra; Editing by Subhranshu Sahu)