EMERGING MARKETS-Asia's stocks, currencies lifted by Biden election win

* China, South Korea and Singapore stocks climb over 1%
* Yuan hits 28-month high after Biden wins U.S. election
* Indonesia 10-year bond yields at more than 33-month low
* Turkey's lira surges after finmin, c.bank changes

By Nikhil Nainan
Nov 9 (Reuters) - China, South Korea and Singapore led
Asia's trade-reliant stocks and currencies higher on Monday,
after Joe Biden clinched the U.S. presidential election,
boosting risk appetite and hopes of friendlier policy towards
the region and Beijing.
The U.S. dollar fell to a 10-week low after more states were
called for Biden on Saturday after days of counting, helping
South Korea's won KRW=KFTC scale its highest since February
2019 and the Singapore dollar SGD= touch its strongest level
since the start of the year. The tighter-than-expected election, which may leave
Republicans in control of the Senate, appears to have doused
some hopes for a large U.S. fiscal package, but leaves the door
open to less combative relations with China, the region's key
growth driver.
China's yuan CNY=CFXS rose as much as 0.6% to hit a
28-month peak, while Indonesia's rupiah IDR= , whose high
interest rates make it one of the region's most popular local
bond markets for foreign investors, gained 0.7%.
"A Biden administration is seen as likely to take a less
directly confrontational approach towards China," said Khoon
Goh, head of Asia Research for ANZ.
"The positive risk sentiment in markets should start to see
portfolio inflows flooding back into Asia, which is supportive
for the region's asset markets."
Yield's on Indonesia's 10-year benchmark bonds ID10YT=RR
fell 9.7 basis points to 6.289%, their lowest in almost three
years. Bond prices rise as yields fall.
Singapore shares .STI stuck around July highs, climbing
over 1%, while in Seoul .KS11 stocks jumped to their highest
level in more than two years.
Elsewhere on global emerging markets, the Turkish lira
TRYTOM=D3 jumped 2% after Finance Minister Berat Albayrak said
he was resigning for health reasons, the second surprise exit of
a top economic policymaker in as many days, setting the stage
for a sharp rise in interest rates. In emerging Asia, stocks in Kuala Lumpur .KLSE dipped 0.2%
after Malaysia extended a partial lockdown of the capital until
early December and ordered more states to enter a four-week
lockdown as coronavirus infections hit new highs. ** Indonesian 3-year benchmark yields fell 19.8 basis points
to 4.89%
** Top losers in Malaysia are Sime Darby Bhd SIME.KL , CIMB
Group Holdings Bhd CIMB.KL and Genting Malaysia Bhd GENM.KL
** China October exports surge, imports rise
Asia stock indexes and currencies at 0404 GMT
COUNTRY FX FX FX INDEX STOCKS STOCKS
RIC DAILY % YTD % DAILY % YTD %
Japan JPY= -0.01 +5.10 .N225 2.29 5.19
China CNY=CFXS +0.39 +5.78 .SSEC 1.90 10.65
India INR=IN +0.00 -3.80 .NSEI 1.29 2.08
Indonesia IDR= +0.71 -1.49 .JKSE 0.00 -15.30
Malaysia MYR= +0.34 -0.56 .KLSE -0.22 -4.57
Philippines PHP= +0.17 +5.32 .PSI -0.89 -15.21
S.Korea KRW=KFTC +0.47 +3.69 .KS11 1.40 11.49
Singapore SGD= +0.31 +0.04 .STI 1.05 -19.14
Taiwan TWD=TP +1.32 +5.63 .TWII 0.71 8.91
Thailand THB=TH +0.23 -1.81 .SETI 2.01 -18.64