SE Asia Stocks-Mostly lower, S'pore, Thailand extend falls

* Edge lower in light trade ahead of year-end

* Singapore hits 10-day low, led by DBS drop

* Export data drags Thai shares to 1-week low

BANGKOK, Dec 22 - Most Southeast Asian stocks fell on Monday despite a bailout for U.S. auto makers, although trading was generally quiet due to the looming year-end holidays.

In a week shortened by the Christmas holiday and amid lacklustre trade, Singapore <.FTSTI> ended down 2.78 percent, Thailand <.SETI> shed 2.89 percent, and Malaysia <.KLSE> eased 0.34 percent.

The Philippines <.PSI> touched a 4-week low before closing down 3.3 percent, Indonesia <.JKSE> dropped 0.22 percent, but Vietnam <.VNI>, Southeast Asia's worst performing market, ended 0.9 percent higher.

Asian stocks were generally lower, with the MSCI index of Asia-Pacific stocks outside Japan <.MIAPJ0000PUS> down 2.47 percent at 0946 GMT, reversing a rebound that had seen the index rise up 16 percent in the prior two weeks.

Analysts said buying was capped as investors wanted to avoid being caught with long positions at a time of global economic weakness.

"People are taking time off for the Christmas holiday," KTB Securities' Charoen Iampattanatham said. "No one really wants to be taking a big bet right now basically."

Energy firms led losers in Bangkok with top oil and gas major PTT <PTT.BK> sliding 4.55 percent to a 10-day low and cement maker Siam Cement <SCC.BK> dipping 5.4 percent, snapping a 5-day winning run.

PTT Aromatics and Refining <PTTAR.BK> also took a drop, ending down almost 4 percent at a 1-week low after Thailand's Fitch Ratings said it had placed its national long-term and bond ratings on rating watch negative. [nFIT301240]

Thai shares briefly hit their lowest in a week after Commerce Ministry data showed exports down 18.6 percent in November, their first decline in almost 6 years.

In Singapore, decliners included Southeast Asia's biggest lender, DBS <DBSM.SI>, which fell as much as 11 percent to a 5-½ year low before closing down 4.9 percent after saying it would raise S$4 billion through a rights offering to beef up its capital.

Investors also dumped other blue chips such as UOB <UOBH.SI>, down 5.08 percent, and Keppel Corp <KPLM.SI>, down 3.8 percent.

Oil refining and petrol retailing firm Singapore Petroleum <SPCS.SI>, 45 percent owned by offshore oil rig builder Keppel, also dived 4.4 percent on worries about its 2008 earnings.

It had said earlier its 2008 earnings have been "severely weakened" due to the steep fall in oil prices, which have tumbled over $100 from a peak in July.

Elsewhere, Kuala Lumpur's index reversed early gains, led by a 10.5 percent drop by palm oil producer Tanah Emas Corp <TANH.KL> after shareholders rejected its dividend proposal. [nKLR3835389]

In Jakarta, blue chips were mostly lower after the investment board cuts its 2009 investment target to $17 billion from $20 billion.

P Gas Negara Tbk <PGAS.JK> fell 10 percent and Bank BNI Tbk <BBNI.JK> shed 6.8 percent. Bumi Resources <BUMI.JK>, however, added 4.6 percent. ($1= 34.52 Baht)