* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* India's September-quarter GDP likely to show pick-up in
economy
* Thailand eyes its best month since January 2001
* Ringgit slips following previous session's strong gains
By Shruti Sonal
Nov 27 (Reuters) - Most emerging Asian stock markets ticked
higher on Friday in thin trade as upbeat economic data from
China boosted hopes of a swift rebound in the region in the
months ahead, while Indian equities were flat ahead of GDP data.
Most stock indexes were set for robust gains for the month,
with Thailand .SETI eyeing its best result in nearly 20 years,
while Singapore .STI was on track for its best since May 2009,
reflecting growing hopes for an economic recovery next year.
The Chinese data suggested factory activity in the region's
biggest economy expanded at a slightly faster pace in November,
while profit growth at industrial firms in October was the
fastest since early 2017. That countered the doubts which have been raised in recent
days over testing of AstraZeneca's AZN.L COVID-19 vaccine,
potentially the most accessible of the three western vaccines to
have bolstered market optimism this month with late-stage trial
results. "Beyond near term noise, potential profit taking and
month-end flows, we remain optimistic of a growth rebound in
2021, helped by vaccines (and) amid unprecedented fiscal and
monetary support globally," Maybank analysts said in a note.
India's gross domestic product (GDP) data, due at 1200 GMT,
is also expected to show a pick-up in Asia's third largest
economy in the September quarter after a record contraction in
the previous three months. With some of the country's big conglomerates attracting
major foreign investment, however, India's NSE Nifty 50 index
.NSEI has already surged almost 20% since late September and
was among the top regional performers this month with an 11%
gain.
"Equity markets will continue to respond positively, even
though the markets globally and in India have run up quite a
bit," said Sameer Narang, chief economist at Bank of Baroda.
"The broader outlook for the economy is a lot better than we
had thought a couple of months back."
With currency markets generally subdued due to the absence
of U.S. investors for the Thanksgiving weekend, the rupee
INR= , down this year against several of its big global peers,
was flat ahead of the data.
The Malaysian ringgit MYR= , which had firmed 0.4% in the
previous session after parliament approved the country's budget,
dipped 0.1%.
Highlights:
** Malaysia's Maybank posts lower third-quarter profit as
pandemic takes toll ** Singapore's 5-year benchmark yield is up 1.40 basis
points at 0.525%
** Top gainers on FTSE Bursa Malaysia Kl index .KLSE
include Axiata Group Bhd AXIA.KL , Press Metal Aluminium
Holdings Bhd PMET.KL , PETRONAS Chemicals Group Bhd
Asia stock indexes and currencies
at 0749 GMT
COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCKS
DAILY % DAILY YTD %
% %
Japan JPY= +0.15 +4.34 <.N225 0.40 12.63
>
China