* 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 .PSI plummeted 1.2%
to a four-week trough on the back of financial and consumer
sectors. Heavyweight SM Prime Holdings SMPH.PS fell 1.2%,
while food processing firm Universal Robina Corp URC.PS
dropped 4.9% to its lowest in more than a month.
Singapore stocks .STI , 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 JARD.SI
slumping 1.8% and lender DBS Holdings Ltd DBSM.SI falling
1.2%.
Malaysian shares .KLSE 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 SIPL.KL , which
shed 2%, was the top drag in the index.
Thai stocks .SETI were trading lower ahead of a policy
decision by the central bank, which is expected to hold rates
steady. 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