* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Asian stocks https://tmsnrt.rs/3f2vwbA
* Bank Indonesia leaves key rate unchanged at 3.75%
* Taiwanese shares close at a record high
* S. Korean stocks extend gains to a third day
By Shriya Ramakrishnan
Jan 21 (Reuters) - Indonesia's rupiah edged higher and shares fell after the country's central bank left interest rates unchanged, while South Korean and Taiwanese shares surged on strong export readings from both the tech-reliant economies.
Bank Indonesia (BI), which had cut borrowing costs five times last year to support a pandemic-hit economy, left its key policy rate at a record low of 3.75% and said the rupiah IDR= was still undervalued and had room to strengthen. majority of analysts in a Reuters poll had expected the central bank to keep rates steady to maintain an attractive interest rate differential on its high-yielding debt, given the recent rise in U.S. bond yields.
"The string of rate reductions in 2020 have yet to bear fruit," said Nicholas Mapa, a senior economist at ING.
"We believe BI will remain open to easing policy further in the near-term should inflation remain subdued with IDR stability likely the main decision point."
The rupiah IDR= was up 0.3% after the decision, while shares in Jakarta .JKSE traded 0.3% lower.
Most other emerging Asian stock markets and currencies strengthened as optimism about the new U.S. administration's hefty spending plans drove buying of riskier assets and dented the dollar's safe-haven appeal.
The Malaysian ringgit MYR= and South Korean won KRW=KFTC advanced 0.3% and 0.2% each against the greenback.
South Korean shares .KS11 extended gains to a third straight session, while Taiwanese stocks .TWII closed up more than 2% at an all-time high.
Data showed South Korea's exports expanded at a much faster pace in the first 20 days of January, and Taiwan's export orders hit a record high in 2020. Korea and Taiwan have witnessed a strong rebound in exports as the pandemic-driven global shift to remote work spurred demand for memory chips used in laptops and servers. The KOSPI and Taiwan stocks have risen more than 9% each this month.
"If global fiscal stimulus and the contact-free digitalisation trend continues post-COVID, Korea's IT, semiconductor and auto exports could outperform market expectations," analysts at Standard Chartered (LON:STAN) wrote in a note.
Indian shares jumped to a record high and the benchmark Sensex .BSESN scaled the 50,000 level for the first time, boosted by heavyweight Reliance Industries RELI.NS after the country's stock exchanges approved a $3.4 billion deal with the Future Group. .BO
HIGHLIGHTS:
** Indonesian 10-year benchmark yields are up 2.3 basis points at 6.298%
** Top gainers on the Singapore STI .STI include Jardine Matheson Holdings Ltd JARD.SI up 2.67% at S$57.71, Jardine Cycle & Carriage Ltd JCYC.SI up 2.39% at S$23.09
** Top losers on the Jakarta stock index .JKSE include Duta Intidaya Tbk PT DAYA.JK down 6.99% at 346 rupiah; Sumber Global Energy Tbk PT SGER.JK down 6.97% at 935 rupiah
Asia stock indexes and
currencies at 0818 GMT
COUNTRY FX RIC
FX
FX
INDEX STOCKS STOCKS
DAILY % YTD %
DAILY YTD %
%
Japan
+0.00 -0.27 .N225
0.82
4.78 China
CNY=CFXS
-0.02 +0.99 .SSEC
1.07
4.27 India
INR=IN
+0.10 +0.14 .NSEI
0.67
5.45 Indonesi IDR=
+0.29 +0.43 .JKSE
-0.25
7.27 a
Malaysia MYR=
+0.29 -0.29 .KLSE
-0.39 -1.96 Philippi PHP=
-0.01 -0.09 .PSI
-0.04
0.01 nes
S.Korea
KRW=KFTC
+0.19 -1.09 .KS11
1.49 10.00 Singapor SGD=
+0.00 -0.27 .STI
0.51
5.99 e
Taiwan
TWD=TP
+0.15 +0.39 .TWII
2.20
9.65 Thailand THB=TH
+0.10 +0.03 .SETI
0.00
4.58