* 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 HMSP.JK 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 .JKSE 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 .PSI 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 .SETI 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 SCC.BK and Global Power Synergy PCL GPSC.BK were among
top laggards on the benchmark.
Singapore shares .STI were little changed, while Malaysian
stock market .KLSE was closed for a holiday.
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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