* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I
* Indonesia stocks hit near 2-week low
* Bank stocks drag Singapore's index
By Anushka Trivedi
Sept 22 (Reuters) - Stock markets in Indonesia, Philippines
and South Korea declined more than 1% on Tuesday as rises in
coronavirus cases locally and globally dampened hopes of a swift
economic recovery.
South Korean stocks .KS11 , dropped 1.7% to lead falls
across Asia's emerging markets, while Jakarta's main index
.JKSE slid as much as 1.6% to its lowest level in almost two
weeks.
The number of infections in the Philippines rose another
3,500 to top 290,000 on Monday, while Indonesia reported a
record jump in cases despite moves to lock down parts of its
capital. Sentiment on stock markets globally worsened on Monday as
the imposition of curbs in a number of European countries, along
with a possible delay in fresh U.S. fiscal stimulus, weakened
the prospects for recovery, said Margaret Yang, a strategist at
retail trading platform IG. Banking stocks weighed on Singapore's FTSE Straits Times
Index (STI) .STI after DBS Group Holdings DBSM.SI was among
the banks named in reports on Sunday that a number of major
global lenders had moved more than $2 trillion in suspect funds
over the past two decades. The city-state's top three lenders shed between 0.6% to 1.4%
each. UOBH.SI OCBC.SI
Demand for safe-haven assets boosted the U.S. dollar .DXY ,
causing most Asian currencies to falter, with the Thai baht
THB=TH , Indonesian rupiah and the Malaysian ringgit MYR=MY
dropping by 0.3% to 0.4%.
The Bank of Thailand (BoT) is expected to keep interest
rates at a record low 0.5% on Wednesday. Goldman Sachs analysts, writing in a note over the weekend,
said they were looking to the BoT's meeting for any insight into
the central bank's stance on unconventional monetary policy
tools such as quantitative easing, corporate bond purchases and
FX policy.
The Taiwan dollar TWD=TP was among outliers as it rallied
0.6%.
The island's monthly export orders, a bellwether of global
technology demand, grew at the fastest pace in more than
two-and-a-half years as the global shift to homeworking during
the pandemic strengthened tech businesses. Indonesian 10-year benchmark yields ID10YT=RR are up
about 2.90 basis points at 6.906%
** In the Philippines .PSI , top index losers are
Bloomberry Resorts Corp BLOOM.PS down 2.37% and Metro Pacific
Investments Corp MPI.PS down 2.02%
** Top losers on the Jakarta stock index .JKSE include
Global Teleshop Tbk PT GLOB.JK down 6.72% and Yanaprima
Hastapersada Tbk PT YPAS.JK down 6.63%
Asia stock indexes and
currencies at 0347 GMT
COUNTRY FX RIC FX DAILY FX YTD INDEX STOCKS STOCKS
% % DAILY % YTD %
Japan JPY= +0.09 +3.88 .N225 0.00 0.29
China CNY=CFXS +0.29 +2.63 .SSEC -0.12 8.61
India INR=IN +0.00 -2.72 .NSEI 0.00 -7.54
Indonesi IDR= -0.27 -5.77 .JKSE -0.82 -21.29
a
Malaysia MYR= -0.34 -1.09 .KLSE 0.51 -5.14
Philippi PHP= -0.04 +4.54 .PSI -1.07 -25.19
nes
S.Korea KRW=KFTC -0.45 -0.58 .KS11 -1.66 6.92
Singapor SGD= +0.01 -1.28 .STI -0.63 -23.36
e
Taiwan TWD=TP +0.61 +3.89 .TWII -0.73 5.87
Thailand THB=TH -0.29 -4.47 .SETI -0.05 -19.33
(Editing by Ana Nicolaci da Costa)