* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I
* S.Korean won hits near 2-1/2 year high
* Thai baht at highest since Nov. 19
* Philippine stocks jump 1%
By Shashwat Awasthi
Dec 2 (Reuters) - Indonesia stocks climbed 1% on Wednesday
as markets weighed the chances of further policy easing by its
central bank, while optimism around coronavirus vaccines and
fresh stimulus in the United States buoyed broader risk
sentiment.
Emerging Asian currencies firmed as the U.S. dollar sank to
their lowest in more than two and a half years, and most
regional equities maintained their bright start to December
after blistering gains last month.
Regional risk appetite was whetted by news that Britain had
approved the Pfizer-BioNTech COVID-19 vaccine to be rolled out
next week, as well as recent signs of an economic pick-up across
Asia. Markets also took stock of a New York Times report that U.S.
President-elect Joe Biden will not immediately act to remove a
Phase 1 trade deal with China, and its implications for the
region. Shares in Jakarta .JKSE traded just shy of a nine-month
high. Data released on Tuesday showed core inflation eased in
November and annual inflation remained below Bank Indonesia's
(BI) target range. "We believe that BI will be open to slashing borrowing costs
further, likely in early 2021, should economic growth remain
downbeat and especially if the Indonesian rupiah can sustain its
recent appreciation trend in coming quarters," said Nicholas
Mapa, a senior economist at Dutch bank ING.
BI held off on easing its policy earlier this year to
support a weak rupiah, but cut rates to a record low last month
to reignite an ailing economy. The rupiah IDR= traded flat on Wednesday.
Analysts at HSBC flagged upbeat factory activity data in the
region reported by several countries on Tuesday.
"Perhaps, most encouragingly, new orders in most markets are
expanding. This suggests that output growth should hold up well
into year-end, if not beyond."
Robust November trade data helped South Korean shares
.KS11 jump over 1.5% to a fresh record high and led the won
KRW=KFTC to its highest level since June 2018. Thailand's baht THB=TH also edged up to a near two-week
high. The currency has appreciated more than 4.5% since October,
prompting the Bank of Thailand (BOT) to step in to contain the
gains. Singapore's FTSE Strait Times Index .STI , which rallied
nearly 16% last month, was among a handful of bourses in the
red.
"Technically, the STI appeared to have entered a
consolidative period after a strong rally in November. A healthy
pullback should not derail the index from its recovery path in
the medium-term," said Margaret Yang, a strategist at DailyFX.
HIGHLIGHTS:
** Indonesian 3-year benchmark yields are up 2.4 basis
points at 4.926%
** Top gainers on the Jakarta stock index include Alfa
Energi Investama FIRE.JK up 25%, Bank Bukopin BBKP.JK up
22.14% and Anabatic Technologies ATIC.JK up 19.83%
** In the Philippines, the top index gainers are JG Summit
JGS.PS up 5.47%, Metropolitan Bank and Trust MBT.PS up 2.93%
and Aboitiz Equity Ventures AEV.PS up 2.69%
Asia stock indexes and currencies
at 0656 GMT
COUNTRY FX RIC FX FX YTD INDE STOCK STOC
DAILY % X S KS
% DAILY YTD
% %
Japan JPY= -0.15 +3.97 <.N2 0.05 13.2
25> 9
China