July 30, 2019 / 10:19 AM / 2 months ago

SE Asia Stocks-Most fall ahead of Fed meeting; Indonesia rises

    * Indonesian cigarette maker Hanjaya Mandala Sampoerna rises
on
upbeat earnings
    * Thai stocks slip to their lowest in over a month 
    * Malaysian stock market closed for holiday

    By Anushka Trivedi
    July 30 (Reuters) - Indonesian shares rose over 1% on
Tuesday, amid weakness in other Southeast Asian markets, as
investors bought back beaten stocks, while stellar quarterly
results by a local cigarette maker also bolstered risk appetite.
  
    Indonesia's biggest tobacco company PT Hanjaya Mandala
Sampoerna Tbk's shares clocked their best performance
in almost a year after it reported a near 11% jump in first-half
net income.
    Broad-based gains pushed the Jakarta index to its
biggest intraday rise in six weeks during the session.
    Cigarette makers in Indonesia have suffered since U.S.-based
e-cigarette brand Juul was introduced on July 10, with Hanjaya's
stock price slipping over 10% since, as of last close.

    "It's more of a technical rebound after 4 to 5 sessions of
weakness that we've seen. I think it's more of bottom fishing
for some stocks," said Taye Shim, head of research at Mirae
Asset Sekuritas.
    Meanwhile, most other Southeast Asian markets edged lower
ahead of the U.S. Federal Reserve meeting, where it is widely
expected to ease its monetary policy. Investors are also eyeing
the central bank chief Jerome Powell's speech for further
direction.
    A quarter-point cut has mostly been factored in but recent
upbeat U.S. data, such as jump in second-quarter GDP, has dimmed
chances of an aggressive rate-cut.
    Vietnam's main board lost 1.2%, underpinned by losses in
real estate and financial sectors.  
    Philippine shares declined 0.5% on weakness in
financial and industrial stocks, but the benchmark is on track
to close higher for the fifth straight month.
    Thai stocks slipped to their lowest in over a month
after government data showed its factory output declined more
than expected in June.
    The country's manufacturing production index (MPI) in June
fell 5.54% from a year earlier, dragged down by lower production
of cars, rubber products and petroleum, while a Reuters poll
predicted a drop of 3.15%.
    Among shares, construction material supplier The Siam Cement
PCL and Global Power Synergy PCL were among
top laggards on the benchmark.
    Singapore shares were little changed, while Malaysian
stock market was closed for a holiday.
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Market                 Current   Previous close  Pct Move
 Singapore              3350.54   3346.39         0.12
 Bangkok                1706.49   1717.97         -0.67
 Manila                 8150.46   8053.92         1.20
 Jakarta                6376.996  6299.035        1.24
 Ho Chi Minh            986.02    997.94          -1.19
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3350.54   3068.76         9.18
 Bangkok                1706.49   1563.88         9.12
 Manila                 8150.46   7,466.02        9.17
 Jakarta                6376.996  6,194.50        2.95
 Kuala Lumpur           1642.69   1690.58         -2.83
 Ho Chi Minh            986.02    892.54          10.47
 


 (Reporting by Anushka Trivedi in Bengaluru; editing by
Uttaresh.V)
  
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