(Repeats for additional subscribers. No change to text.)
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA
* Most Asian currencies firm against a weaker USD
* Rupiah hits near one-month low
* Philippine shares gain over 1%
By Shriya Ramakrishnan
Aug 18 (Reuters) - Most of Asia's emerging currency and stock markets rose on Tuesday as the U.S. dollar eased and upbeat data gave investors hopes of a bounce in economic output and cash inflows.
Shares in Indonesia .JKSE hit a more than five-month high, boosted by gains in the financial and consumer sectors, after current account data topped expectations and a state budget pointed to higher spending for public works.
In the Philippines, shares .PSI gained more than 1% following an easing of strict restrictions in and around capital Manila, while data showed 7.7% growth in June overseas remittances, a key source of foreign income. June report shows how resilient remittance flows can be even during crisis periods....but we will wait to see if remittance growth can be sustained given that up to 100,000 Filipino workers are set to return home after losing their jobs overseas," analysts at ING said in a note.
Currencies inched higher, led by an almost half percent gain for the Taiwan dollar.
The rupiah IDR= bucked the trend with an almost 1% fall in early trade before recovering some ground after the data showed Indonesia's current account deficit narrowing slightly. the proposed budget for 2021 represents only a 0.3% increase compared with this year's spending plans, Anthony Kevin, an economist at Mirae Asset Sekuritas Indonesia pointed to higher allocations for ministries and institutions as positives.
"Despite the relatively promising state budget proposal for 2021, we are of an opinion that budget realization is the most crucial factor in determining the fate of Indonesia's economic recovery, which we believe would be very gradual," Kevin added.
In South Korea, the won KRW=KFTC dipped and shares .KS11 fell 0.2%, as trade resumed after Monday's holiday, with a spike in domestic coronavirus infections denting sentiment.
South Korea warned on Monday of the danger of exponential growth in cases as outbreaks flared. While the country has been one of the world's success stories in the pandemic, it has nevertheless battled persistent spikes in infections. Indonesian 10-year benchmark yields are up 0.8 basis points at 6.775%
** Top gainers on the Jakarta stock index .JKSE include Akbar Indo Makmur Stimec Tbk PT AIMS.JK up 30.23% at 224 rupiah, Global Mediacom Tbk PT BMTR.JK up 22.41% at 282 rupiah, Dafam Property Indonesia Tbk PT DFAM.JK up 14.45% at 396 rupiah
** In the Philippines, top index gainers are Robinsons Retail Holdings Inc RRHI.PS up 3.23% at 64 peso, Semirara Mining and Power Corporation SCC.PS up 3.04% at 9.5 peso, Puregold Price Club Inc PGOLD.PS up 2.72% at 51 peso
Asia stock indexes and
currencies at 0417 GMT
COUNTRY FX RIC
FX FX YTD
INDEX STOCKS STOCK
DAILY S YTD
+0.33 +2.81 .N225
-0.26 -2.62 China
0.42 13.22 > India INR=IN 0.00 -4.68
0.59 -7.02 Indonesi
1.05 -15.8 a 2 Malaysia
0.49 -1.28 Philippi
1.17 -21.4 nes
+0.02 +0.47 .SSEC
0.00 -4.68 .NSEI
0.59 -7.02 Indonesi IDR=
-0.54 -6.22 .JKSE
1.05 -15.8 a
2 Malaysia MYR=
+0.08 -2.32 .KLSE
0.49 -1.28 Philippi PHP=
+0.02 +4.20 .PSI
1.17 -21.4 nes
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.