EMERGING MARKETS-Singapore, Indonesia stocks lead modest Asian gains on vaccine news
* Singapore, Indonesia up around 1%
* Rupiah rises ahead of central bank meeting on Thursday
* Top Glove slides 10%, weighing on Malaysian shares
Nov 17 (Reuters) - Singapore and Indonesia climbed around 1% on Tuesday, leading more muted gains across Asian stock markets on promising news of another COVID-19 vaccine as the pandemic spreads.
Moderna MRNA.O said its experimental vaccine was 94.5% effective in preventing COVID-19 infection, becoming the second U.S. company after Pfizer (NYSE: PFE ) PFR.N last week to report promising results in trials. remain cautious of the ever increasing cases of COVID-19 even as vaccine hopes dominate market sentiments for now," Maybank analysts wrote in a note.
Stocks in Jakarta .JKSE were at their highest since March, and Singapore .STI since June. Both countries' stock markets have seen strong gains in November so far on Joe Biden's U.S. presidential election win and vaccine developments.
In Malaysia, sharp losses by Top Glove Corp TPGC.KL held back broader gains. The glove maker fell 10% after tighter movement curbs in an area where its dormitories are located will impact about 15% of its total factory workforce. market .KS11 gains in South Korea were capped by tighter curbs at home, while the won KRW=KFTC edged 0.2% higher.
Currencies in the region made broad gains against the U.S. dollar, as appetite for the greenback was hindered by some U.S. states stepping up restrictions to counter the spread of the virus, and by the lack of cooperation Biden has received from the Trump administration for a transition of government. FRX/
The Thai baht THB=TH rose 0.3% ahead of Wednesday's central bank meeting. Economists polled by Reuters expect the Bank of Thailand to keep its policy rate at a record low. Indonesian rupiah IDR= was up 0.6%, with economists expecting the central bank there also to keep rates unchanged, underpinning the appeal of its high-yielding local bond market. yield on its benchmark 10-year bonds ID10YT=RR fell 5.4 basis points to 6.228%. Bond yields fall as prices rise.
** Singapore shares up over 14% so far in November, and Indonesia over 8%
** Top gainers in Jakarta include Maming Enam Sembilan Mineral Tbk PT AKSI.JK and Adhi Karya (Persero) Tbk PT ADHI.JK
** Thai Beverage PCL TBEV.SI and Jardine Strategic Holdings Ltd JSH.SI led gains in Singapore
Asia stock indexes and currencies at 0348 GMT COUNTRY
DAILY % YTD %
DAILY % YTD % Japan
+3.96 .N225 0.03
+6.03 .SSEC -0.20
-4.32 .NSEI 0.00
-1.00 .JKSE 0.91
-0.35 .KLSE 0.04
0.72 Philippines PHP=
+4.47 .KS11 0.13
+5.63 .TWII 0.62
-0.83 .SETI 0.72
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