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)
