* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Asian stocks https://tmsnrt.rs/3f2vwbA
* S. Korean shares set for third straight day of gains
* Taiwan 2020 export orders hit record high
* Bank Indonesia seen holding rates
By Shriya Ramakrishnan
Jan 21 (Reuters) - South Korean and Taiwanese shares jumped
on Thursday as upbeat export data from both countries lifted
investor sentiment, while the Indonesian rupiah inched higher
ahead of a central bank meeting where rates are expected to be
kept on hold.
Data showed South Korea's exports expanded at a much faster
pace in the first 20 days of January, and Taiwan's export orders
hit a record high in 2020 boosted by strong demand for
technology products. Shares in Seoul .KS11 climbed 0.7% and were headed for a
third consecutive day of gains, while the Taiwanese market
.TWII surged nearly 2% and its currency TWD=TP once again
stood out with a gain of more than 1%.
"Growth is picking up in Asia, especially those benefiting
from tech exports but generally as we see vaccine rollouts being
expedited, that would support expectations of recovery and mean
there is scope for Asian currencies to strengthen," said Sim Moh
Siong, FX strategist at Bank of Singapore.
"There is nagging concern about the rise in U.S. bond
yields, but it is going to be orderly and won't be a hurdle for
further strengthening of Asian currencies."
Currencies across the region notched modest gains as bets of
a bigger pandemic relief plan in the U.S. under a Joe Biden
administration sapped demand for the safe-haven dollar and drove
buyers into riskier assets.
The Malaysian ringgit MYR= and Thai baht THB=TH
strengthened 0.3% and 0.2% each, while the South Korean won
KRW=KFTC and Singapore dollar SGD= traded marginally higher.
In Indonesia, investors were looking ahead to an interest
rate decision by the central bank later in the day. The rupiah
IDR= ticked up 0.2%, and shares .JKSE barely moved before
the policy meeting.
Most analysts in a Reuters poll expect Bank Indonesia to
keep its main policy rate unchanged at 3.75%, which could help
the currency maintain a comfortable yield advantage against the
U.S. dollar, after a rise in U.S. Treasury yields earlier this
month pressured the rupiah. "Recent rupiah volatility and bounce in UST yields
reflecting reflation trades are a bother for policymakers,
inhibiting the central bank from easing rates further at this
juncture," analysts at DBS Bank wrote in a note.
"We, nonetheless, see room for a cut within 1H21 if the
(coronavirus) infection curve fails to stabilise, with real
rates providing a sufficient cushion."
Shares in Thailand .SETI were up 0.8%, while Philippine
equities .PSI once again underperformed, with the benchmark
index on course for a fifth day of losses.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields are up 2.7 basis
points at 6.302%
** Top gainers on Thailand's SETI .SETI include Chememan
PCL CMAN.BK up 25.56% at 1.67 baht, MFC Patong Heritage
Property Fund M-PATu.BK up 13.1% at 3.28 baht
** In the Philippines, top index losers are GT Capital
Holdings Inc GTCAP.PS down 3.01% at 548 pesos; Robinsons
Retail Holdings Inc RRHI.PS down 2.25% at 62.95 pesos;
Asia stock indexes and
currencies at 0428 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS
DAILY % YTD % DAILY YTD %
%
Japan JPY= +0.05 -0.22 .N225 0.87 4.83
China CNY=CFXS +0.04 +1.05 .SSEC 1.30 4.51
India INR=IN 0.00 +0.05 .NSEI 0.56 5.32
Indonesi IDR= +0.21 +0.36 .JKSE 0.03 7.57
a
Malaysia MYR= +0.32 -0.25 .KLSE -0.14 -1.72
Philippi PHP= +0.04 -0.04 .PSI -0.27 -0.22
nes
S.Korea KRW=KFTC +0.07 -1.21 .KS11 0.70 9.15
Singapor SGD= +0.06 -0.21 .STI 0.17 5.63
e
Taiwan TWD=TP +1.63 +1.87 .TWII 1.90 9.32
Thailand THB=TH +0.20 +0.13 .SETI 0.80 5.42