* Singapore shares record worst day in nearly a year
* Taiwan stocks clock worst week in over a year
* Philippine shares reverse losses from six-month lows
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Soumyajit Saha
May 14 (Reuters) - Singapore stocks tumbled more than 3% on Friday after the city-state's imposition of the strictest COVID-19 curbs since last year stoked worries of a potential unravelling of its nascent recovery.
Most Asian stocks, however, strengthened on reassurances from the U.S. Federal Reserve that a spike in inflation was temporary, with China .SSEC and South Korea .KS11 shares advancing 1.7% and 1.1%, respectively. stocks .STI marked their worst session in nearly a year and the dollar SGD= fell 0.2% as the city-state tightened restrictions on social gatherings and public activities amid a rise in locally acquired infections. Asian trade and financial hub had been reporting almost zero or single-digit daily local infections for months, before a recent rise.
"Quick reopening hopes have been dashed, especially for the travel and leisure sectors," Bank of Singapore analyst Moh Siong Sim said.
"Manufacturing should hold up as has been the case over the past year."
Taiwan shares .TWII rose 1% to snap four sessions of losses after Premier Su Tseng-chang said the COVID-19 alert level would not be raised and that there were enough resources to fight the pandemic. bourse though registered its worst week in over a year as it lost more than 8%, amid tighter curbs in public places forced by a rare and unexpected rise in COVID cases.
Philippine shares .PSI reversed losses to rise 0.5% as market participants picked up beaten-down stocks, an analyst said, after dropping as much as 2.5% to six-month lows earlier in the session.
Chinese yuan CNY=CFXS firmed 0.3% to lead gains among Asian currencies as the dollar USD= weakened, with investors assessing the risk of U.S. inflation rising faster than expected. HIGHLIGHTS
** Indonesian 10-year benchmark yields are down about 0.90 basis points at 6.405%
** India's COVID-19 cases cross 24 million
Asia stock indexes and
currencies at 0626 GMT
INDEX STOCKS STOCKS
DAILY YTD %
DAILY YTD %
-0.01 -5.68 .N225
+0.28 +1.42 .SSEC
+0.08 -0.40 .NSEI
4.74 Philippines PHP=
+0.10 +0.50 .PSI
0.53 -12.19 S.Korea
+0.09 -3.73 .KS11
-0.23 -1.15 .STI
+0.00 +1.74 .TWII
-0.06 -4.49 .SETI
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