* Singapore leads losses
* Indonesia at 5-week low
* Thai markets closed for holiday
By Anushka Trivedi
July 29 (Reuters) - Most Southeast Asian stock markets fell
on Monday, with Singapore leading losses, as investors trimmed
their exposure in risky assets a day before the key U.S. Federal
Reserve policy meeting.
A 25 bps cut by the U.S. central bank is all but confirmed,
with the market's focus now on cues from Fed chairman Jerome
Powell's guidance about the easing cycle.
"The improved U.S. GDP data does not change the forecast on
that (the 25 bps rate cut), but it does reduce the probability
of a potential 50 bps (cut) and the number of rate-cuts for the
rest of 2019" said Alfonso Esparza, a senior market analyst at
OANDA.
Singapore's main board .STI slipped 0.5% to a near
three-week low on weakness in financials.
Earlier in the day, Southeast Asia's biggest lender DBS
Group Holdings Ltd's DBSM.SI second-quarter profit topped
expectations. But analysts see a tough road ahead for the
city-state's banks due to a recent slowdown in the country's
economy and a drop in interest rates. DBS lost 0.9%, whereas rivals Oversea-Chinese Banking Corp
Ltd OCBC.SI and United Overseas Bank Ltd UOBH.SI , which are
due to report earnings later this week, shed 0.4% and 0.7%,
respectively.
Indonesian shares .JKSE declined 0.4% to their lowest in
over a month, with losses concentrated in the consumer sector.
Share prices of local cigarette makers have declined since
the launch of U.S.-based e-cigarette brand Juul in Indonesia in
early-July. Heavyweight PT Hanjaya Mandala Sampoerna Tbk
HMSP.JK has dropped 10.2% since July 10.
"We estimate that 3-5% of the cigarette market is at risk of
competition from e-cigarettes in the medium term, mainly in the
higher-priced mild and white segments" Janni Asman, analyst at
Maybank Kim Eng Sekuritas said.
Elsewhere, Philippine stocks .PSI ended flat, while the
Thai stock market .SETI was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3346.39 3363.76 -0.52
Bangkok
Manila 8188.52 8183.99 0.06
Jakarta 6299.035 6325.237 -0.41
Kuala Lumpur 1642.69 1647.96 -0.32
Ho Chi Minh 997.94 993.35 0.46
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3346.39 3068.76 9.05
Bangkok 1717.97 1563.88 9.85
Manila 8188.52 7,466.02 9.68
Jakarta 6299.035 6,194.50 1.69
Kuala Lumpur 1642.69 1690.58 -2.83
Ho Chi Minh 997.94 892.54 11.81