EMERGING MARKETS-Malaysia ticks higher after parliament approves budget

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Malaysia approves 2021 budget in key victory for PM
* Investors raise bullish positions on most Asian
currencies- poll
* Singapore's October industrial output declines
unexpectedly

By Shruti Sonal
Nov 26 (Reuters) - Malaysia's ringgit and stock markets
gained ground on Thursday after parliament approved the 2021
budget in a major win for Prime Minister Muhyiddin Yassin,
ensuring his political survival amid a deepening health and
economic crisis.
Muhyiddin, who has faced infighting in his ruling coalition
and a leadership challenge from opposition leader Anwar Ibrahim
since coming to power, had called for cross-party support for
the budget. "It's good news for the markets. It means there will be no
major hurdles for the PM in the short term," said Danny Wong,
chief executive officer of fund management firm Areca Capital.
The ringgit MYR= was up 0.4% after the news, while the
benchmark stock index .KLSE climbed 0.9%.
The gains came as other Asian currencies again inched higher
to the dollar, with the Singapore dollar SGD= and Indonesia's
rupiah IDR= benefitting from the past fortnight's general
improvement in investors' appetite for higher-yielding assets
globally.
A Reuters poll showed investors have raised bullish
positions on most Asian currencies, on the back of promising
COVID-19 vaccine trial results this month and the hopes for
economic recovery next year they have stirred. The outlook for Asian assets is improving further, said
Mitul Kotecha, senior EM strategist at TD Securities.
"A few factors will likely drive the yuan and Asian FX
higher going forward, including relatively stronger growth
compared to other regions, improving external balances, likely
less trade barriers under a Biden administration and the U.S.
dollar's weakness," Kotecha added.
Stock markets in the region were mixed, with the Singapore
bourse .STI , up about 18% for the month, dipping 0.8%.
The city-state's industrial output unexpectedly declined
0.9% year-on-year in October, missing economists' forecasts,
with biomedical and electronics manufacturing cooling from the
previous month's strong pace, official data showed. Malaysia's 10-year benchmark yield is up 2.2 basis points
at 2.678%
** Top gainers on FTSE Bursa Malaysia Kl Index .KLSE
include Top Glove Corporation Bhd TPGC.KL , Press Metal
Aluminium Holdings and Telekom Malaysia Bhd TLMM.KL
** Thailand sees first trickle of tourists in October as
curbs ease Asia stock indexes and
currencies at 0819 GMT
COUNTRY FX RIC FX FX INDE STOCK STOCK
DAILY YTD % X S S YTD
% DAILY %
%
Japan JPY= +0.16 +4.15 <.N2 0.91 12.18
25>
China S> EC>
India INR=IN +0.12 -3.31 <.NS 0.30 5.99
EI>
Indones IDR= +0.28 -1.49 <.JK 1.42 -8.57
ia SE>
Malaysi MYR= +0.39 +0.49 <.KL 0.83 1.39
a SE>
Philipp PHP= -0.08 +5.37 <.PS -1.05 -11.3
ines I> 6
S.Korea C> 11>
Singapo SGD= +0.06 +0.41 <.ST -0.60 -11.5
re I> 0
Taiwan TWD=TP +0.02 +4.49 <.TW 0.78 15.41
II>
Thailan THB=TH +0.08 -1.29 <.SE 0.88 -9.60
d TI>