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SE Asia Stocks-Falter on Trump's impeachment inquiry, trade tensions

* Push for Trump impeachment increases political risk * Philippine stocks at four-week low * Thai stocks down ahead of cenbank policy decision By Anushka Trivedi Sept 25 (Reuters) - Southeast Asian stock markets dropped on Wednesday as investors offloaded risky assets after the launch of a formal impeachment inquiry against U.S. President Donald Trump raised prospects of more political uncertainty in the world's largest economy. Democrats in the U.S. House of Representatives on Tuesday launched a formal impeachment inquiry into President Donald Trump, accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year's election. Meanwhile, Trump's scathing remarks at the United Nations Assembly accusing China of currency manipulation and intellectual property theft also risked riling a tariff dispute that has embroiled global equities over the past year. "If an impeachment enquiry looks like ending his (Donald Trump's) re-election chances in 2020, he may throw caution to the wind and harden his attitude to a China trade deal, increasing the chances of a global recession next year," said Jeffrey Halley, senior market analyst, Asia Pacific, OANDA. Leading losses, the Philippine bourse plummeted 1.2% to a four-week trough on the back of financial and consumer sectors. Heavyweight SM Prime Holdings fell 1.2%, while food processing firm Universal Robina Corp dropped 4.9% to its lowest in more than a month. Singapore stocks, counted among the most sensitive to global trade tensions, marked their worst session in three weeks. Industrial and financials dominated losses in the benchmark, with conglomerate Jardine Matheson Holdings Ltd slumping 1.8% and lender DBS Holdings Ltd falling 1.2%. Malaysian shares were set for a third session of declines, while data on Wednesday showed that consumer price index had risen 1.5% in August from a year earlier, in line with Reuters' outlook. Analysts, however, expect slowing economic growth to keep price pressures in check. Palm oil producer Sime Darby Plantation Bhd, which shed 2%, was the top drag in the index. Thai stocks were trading lower ahead of a policy decision by the central bank, which is expected to hold rates steady. For Asian Companies click: SOUTHEAST ASIAN STOCK MARKETS As at 0400 GMT Change on the day Market Current Previous close Pct Move Singapore 3134.56 3155.46 -0.66 Bangkok 1628.42 1630.5 -0.13 Manila 7798.55 7893.94 -1.21 Jakarta 6121.535 6137.608 -0.26 Kuala Lumpur 1587.25 1592.33 -0.32 Ho Chi Minh 984.88 988.13 -0.33 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3134.56 3068.76 2.14 Bangkok 1628.42 1563.88 4.13 Manila 7798.55 7,466.02 4.45 Jakarta 6121.535 6,194.50 -1.18 Kuala Lumpur 1587.25 1690.58 -6.11 Ho Chi Minh 984.88 892.54 10.35 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry Jacob-Phillips)