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SE Asia Stocks-Escalation in Sino-U.S. trade tension pushes indexes lower

* China retaliates with higher tariffs on $60 bln U.S. goods * Philippines leads losses By Nikhil Subba May 14 (Reuters) - Southeast Asian stock markets plunged on Tuesday as trade tensions between the world's two largest economies escalated further after Beijing announced retaliatory tariffs on U.S. imports, sparking concerns of a global economic slowdown. China said it would impose tariffs on $60 billion worth of U.S. goods, despite U.S. President Donald Trump's warning to not retaliate against additional tariffs on Chinese imports announced by the White House on Friday. "Markets are on risk-off mode as a result of worsening trade relations between the United States and China, following China's retaliation," RCBC Securities analyst, Fio Dejesus, said. Beijing's move comes after both U.S. and China were unable to carve out a deal to reverse Trump's tariff hike, following fresh trade talks last week which ended in a deadlock. However, President Donald Trump said on Monday he was optimistic about resolving the U.S. trade dispute with China. Philippines led losses in the region, dropping as much as 1.7% to its lowest since March 4, dragged by consumer stocks. It held its mid-term elections on May 13, and unofficial results showed that President Rodrigo Duterte's allies held the top spots. Indonesia's index shed as much as 1.7%, its lowest since December 18, 2018, dragged by polyester fiber maker Tifico Fiber Indonesia's near 24% plunge and real estate developer Duta Anggada Realty's 22.4% drop. Singapore stocks slid as much as 1.1% to a 1-1/2-month low, with lender DBS Group falling as much as 2.3% to its lowest since April 1. Malaysian stocks fell 0.8% to its lowest since September 7, 2015, dragged by Sime Darby Plantation, the world's biggest oil palm planter by land holdings, which fell as much as 5.1% to its lowest since January 3. Thai and Vietnam shares were trading marginally lower, both pressured by the utilities sector. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0428 GMT Market Current Previous Pct Move close Singapore 3206.62 3234.28 -0.86 Bangkok 1633.79 1640.13 -0.39 Manila 7589.92 7,742.20 -1.96 Jakarta 6061.266 6135.396 -1.21 Kuala Lumpur 1596.64 1601.09 -0.28 Ho Chi Minh 957.5 958.54 -0.11 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3206.62 3068.76 4.49 Bangkok 1633.79 1563.88 4.47 Manila 7589.92 7,466.02 1.66 Jakarta 6061.266 6,194.50 -2.15 Kuala Lumpur 1596.64 1690.58 -5.56 Ho Chi Minh 957.5 892.54 7.28 (Reporting by Nikhil Subba; editing by Uttaresh.V)