* Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Indonesia c.bank says GDP recovery slower than expected
    * Indian shares eye a 7-day rally
    * Volumes thin ahead of Lunar New Year holiday

    By Shruti Sonal
    Feb 9 (Reuters) - Indonesian shares reversed their course to
trade lower on Tuesday, after the country's central bank raised
concerns about the pace of its economic recovery, while most
other emerging Asian stocks gained in line with a broader rally.
    The Jakarta benchmark, which rose as much as 1.3%
earlier, was down 0.7% at 0721 GMT. It had added nearly 4% in
the last four sessions following an expansion of a COVID-19
relief budget last week. 
    Bank Indonesia's (BI) governor told lawmakers that the
contraction in Southeast Asia's largest economy in 2020 was
greater than its expectations and the pace of its economic
recovery was slower than anticipated.
    Denting sentiment further, retail sales in Indonesia dropped
19.2% year-on-year in December, steeper than a 16.3% fall a
month earlier, a central bank survey showed.
    Analysts at DBS Group, in a note, said that the near-term
strain on public books is unavoidable owing to the COVID-19
pandemic. 
    Indonesia is tackling the worst outbreak in the region, with
its case load accelerating in recent months. 
    Higher deficits will push borrowings in 2020-2022, likely
taking the public debt level to the upper end of 38%-40% of GDP
compared to 30% in end-2019, the analysts added. 
    Most other emerging Asian stocks edged higher as volumes
remained thin ahead of the Lunar New Year holidays, while
regional currencies strengthened against a weaker dollar.
    The Thai baht, Malaysian ringgit and the
Singapore dollar edged up about 0.2% each.
    Among equities, the Thai benchmark gained for a
fourth consecutive day, while India was on track for a
seven-day rally.
    Investors also looked to regional central banks to gauge
their response to seasonal demand for cash ahead of holidays.
    Vietnam's central bank has injected some $1.6 billion in
cash into the banking system over the past five trading days
, joining China and Indonesia which pumped liquidity
into their financial markets last week.
    Analysts said COVID-19 disruptions have made it harder for
regional central banks to predict cash demand.
    "The cash injection is typically higher going into the Lunar
New Year... but I think this is a bit special because of the
pandemic, which is why we're seeing more volatility in the
short-term interest rates", said Sim Moh Siong, FX strategist at
Bank of Singapore.
    "Central banks have a bit more difficulty in estimating cash
demand because, unlike in the previous years, people cannot
travel, visit each other and go out as much".
    Elsewhere, a Reuters poll showed Malaysia's economic slump
is expected to have deepened in the fourth quarter due to
sustained restrictions on movement and business to curb the
spread of COVID-19.
    
    Highlights:
    
    ** Top losers on the Jakarta stock index include
Superkrane Mitra Utama Tbk PT; Satria Antaran Prima
Tbk PT; Buana Lintas Lautan Tbk PT 
    ** Malaysia's 10-year benchmark yield is up 2.90 basis
points at 2.824%
    
    
      Asia stock indexes and                       
      currencies at 0741 GMT                     
 COUNTRY   FX RIC     FX     FX    INDE  STOCKS  STOCK
                    DAILY   YTD %   X    DAILY   S YTD
                      %                    %       %
  Japan             +0.38   -1.51  <.N2   0.40   7.51
                                   25>           
  China   <CNY=CFX  +0.00   +1.23  <.SS   2.01   3.76
             S>                    EC>           
  India             +0.11   +0.25  <.NS   0.77   8.94
                                   EI>           
 Indones            +0.04   +0.36  <.JK  -0.58   3.24
   ia                              SE>           
 Malaysi            +0.20   -0.86  <.KL   0.91   -2.44
    a                              SE>           
 Philipp            +0.03   -0.07  <.PS   0.58   -1.04
  ines                              I>           
 S.Korea  <KRW=KFT  +0.27   -2.72  <.KS  -0.21   7.35
             C>                    11>           
 Singapo            +0.23   -0.66  <.ST  -0.03   3.05
   re                               I>           
 Taiwan             +1.50   +1.83  <.TW    -     7.26
                                   II>           
 Thailan            +0.17   -0.03  <.SE   0.60   5.25
    d                              TI>           
 
 (Reporting by Shruti Sonal in Bengaluru; editing by Uttaresh.V)