* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Virus surge dampens risk sentiment across the region
* South Korea reports better than expected economic growth
* Investors eye Federal Reserve meeting later this week
By Harish Sridharan
April 27 (Reuters) - Asian stocks posted small moves and
currencies were flat on Tuesday, as a surge in coronavirus cases
in the region and the U.S. Federal Reserve's meeting this week
keep investors on edge.
"Regional COVID-19 spikes, foremost in India, signs in
Japan, Thailand, Malaysia, Korea, and accompanying curbs could
be mitigating the influence of largely positive data prints,"
analysts at Maybank said, noting the mixed equities performance
in Asia.
Indian equities .NSEI opened higher, with technology
stocks leading the gains, as investors awaited a slew of
quarterly results later in the day.
The coronavirus crisis in the South Asian country, however,
remained grim even as the daily rise in coronavirus cases
retreated from record levels on Tuesday, but stayed above the
300,000 mark for a sixth straight day. Thai stocks .SETI edged 0.3% higher, while the baht
THB=TH strengthened 0.2%, even as the government shuttered
parks, gyms and cinemas in Bangkok, the epicentre of the latest
wave of infections, as Thailand reported yet another daily
record of 15 virus deaths. South Korea's economic growth beat expectations in the first
quarter, data showed on Tuesday, as global demand surged and the
government maintained support for ailing small businesses. The
won KRW=KFTC traded 0.1% firmer, while the country's shares
.KS11 were down 0.3%. "With growth surging, talk of earlier Bank of Korea
tightening will inevitably pick up, and this could provide some
further support to the Korean won which appreciated today on the
GDP data," Robert Carnell, regional head of research,
Asia-Pacific from ING Economics wrote in a note.
Investors will likely stay away from making big bets ahead
of the Fed's meeting later this week, where Chair Jerome
Powell's is likely to shed light on whether improving economic
conditions warrant a tapering of monetary easing.
Equities in Singapore .STI stood firm at 0.2% a day after
the city-state reported higher-than-expected manufacturing
output for March.
Malaysian shares .KLSE were an outlier with relatively
larger losses, falling 0.8%, as stocks of palm oil producers and
large glove makers slipped. The nation recorded 2,776 new
COVID-19 cases with 13 deaths on April 26.
Highlights
** Top loser on the FTSE Bursa Malaysia KLCI Index .KLSE
was Hartalega Holdings Bhd HTHB.KL , down 3.40%
** General Engineering PCL GEL.BK was up 29.27% and the
top gainer on Thailand's SETI .SETI
** The biggest gainers in the NSE index .NSEI were
Hindalco Industries Ltd HALC.NS and Reliance Industries Ltd
RELI.NS
Asia stock indexes and currencies at
0452 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCK
DAILY YTD % DAILY S YTD
% % %
Japan JPY= -0.16 -4.63 .N225 -0.3 5.9
China CNY=CFXS +0.01 +0.66 .SSEC -0.54 -1.46
India INR=IN +0.15 -2.06 .NSEI 0.57 4.19
Indonesia IDR= -0.09 -3.13 .JKSE -0.01 -0.25
Malaysia MYR= +0.02 -1.83 .KLSE -0.83 -1.06
Philippines PHP= -0.17 -0.83 .PSI -0.30 -10.7
8
S.Korea KRW=KFTC +0.13 -2.30 .KS11 -0.30 11.63
Singapore SGD= -0.09 -0.41 .STI 0.15 12.87
Taiwan TWD=TP +0.31 +2.19 .TWII -0.06 19.20
Thailand THB=TH +0.22 -4.40 .SETI 0.29 7.91