* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA
* Indonesian rupiah weakens as local infections rise
* S. Korean markets outperform
By Shriya Ramakrishnan
June 26 (Reuters) - Asian currencies struggled for direction
in choppy trade on Friday with Indonesia's rupiah IDR=
trailing the rest of the region with a half percent fall after
the country reported another surge in coronavirus infections.
A generally improved mood pushed several of the region's
stock markets higher, with South Korean shares .KS11 and the
won KRW=KFTC outperforming, boosted by a 3% jump for Samsung
Electronics 005930.KS and improved consumer sentiment data.
Worries about the growing number of coronavirus infections
have kept investors on edge this week, denting hopes for a swift
global economic recovery and pushing stock markets across the
region lower.
However, the stimulus pumped into the financial system by
the world's major central banks has kept cash flowing towards
stocks and emerging markets.
"The previous surge in demand for USD (back in March) is now
fading, and there is plenty of liquidity support globally," said
Christopher Wong, a senior FX strategist at Maybank Singapore.
"The sticking point is, though, will job losses come back, and
how a second wave of infections pan out."
Bank of Korea said it will extend its temporary offer of an
unlimited of amount of money through repo operations for another
month, adding it would actively provide liquidity should
volatility rise in financial markets. The South Korean market has also benefited this week from an
easing in tensions with North Korea, after the latter decided to
suspend its military action plan.
Stock markets in Singapore .STI and Thailand .SETI
reversed course after steep losses in the previous session to
rise around 1%, helped by gains in the financial and energy
sector, respectively.
Philippine stocks .PSI fell and the peso PHP= gained
0.2%, a day after the country's central bank surprisingly cut
interest rates for a fourth time this year. Jennifer Lomboy, a portfolio manager at First Metro Asset
Management, said that weakness in the peso was relatively capped
overnight by an ample supply of dollars.
ING analysts expect Philippine central bank Governor
Benjamin Diokno to refrain from further policy rate cuts and
instead turn to reducing reserve requirements should it need to
ease policy further.
Financial markets in China and Taiwan were closed for
holidays.
HIGHLIGHTS:
** Indonesia's 3-year benchmark yield is up 2.7 basis points at
6.284% while the Philippine 10-year benchmark yield is
unchanged at 3.336%
** Top gainers on the Thailand's SETI .SETI include Internet
Thailand PCL INET.BK up 10.74% at 2.68 baht, Royal Orchid
Hotel Thailand PCL ROH.BK up 10.57% at 34 baht
** Top gainers in Singapore are Mapletree Commercial Trust
MACT.SI up 2.59% at S$1.98, Capitaland Mall Trust CMLT.SI up
2.53% at S$2.03, Oversea-Chinese Banking Corporation Ltd
OCBC.SI up 1.79% at S$9.1
** In the Philippines, top losers are Bloomberry Resorts Corp
BLOOM.PS down -2.63% at 7.4 peso; DMCI Holdings Inc DMC.PS
down -2.39% at 4.09 peso; San Miguel Corp SMC.PS down -2.01%
at 97.5 peso
Asia stock indexes and
currencies at 0413 GMT
COUNTRY FX FX DAILY FX YTD INDEX STOCKS STOCK
RIC % % DAILY S YTD
% %
Japan