* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I
* Thai stocks at lowest since April 16
* Taiwan dollar set for best day since January 2017
By Shashwat Awasthi
Oct 19 (Reuters) - Thai shares languished at a six-month low on Monday as escalating
anti-government protests threatened to further erode investor confidence in the country and
heaped further pressure on the region's worst performing stock market this year.
Protests demanding the resignation of Prime Minister Prayuth Chan-ocha and curbs on powers
of the monarchy have compounded Thailand's woes in recent months after the coronavirus pandemic
ravaged its tourism-reliant economy. Bangkok stocks .SETI , which have lost more than 23% so far this year, slid as much as 1.7%
to their lowest since April 16 and were set for their worst day since June.
"As no signs of an end to domestic political protests are yet in sight, Thai stocks look to
continue their downward bias," analysts at Phillip Securities Thailand said in a note.
They warned that protracted political protests could further exacerbate the country's
tourism sector and that the foreign sell-off in Thai stocks may be higher than usual due to the
political worries.
Thailand has already suffered a record $8.8 billion in equity outflows over the first nine
months of this year, exchange data shows.
Most other emerging Asian stock markets rose as investors pinned their hopes on the prospect
of a fresh U.S. fiscal stimulus deal and took comfort that China's economic recovery accelerated
in the third quarter. Uncertainty over whether U.S. lawmakers can agree on a fiscal package before the Nov. 3
election has weighed on sentiment recently. House Speaker Nancy Pelosi said on Sunday she was
optimistic legislation could be pushed through before Election Day. Philippine stocks .PSI jumped 0.9% after the lower parliamentary house on Friday approved
the 2021 budget, which the government hopes will underpin an economy recovering from a
pandemic-led downturn. Jennifer Lomboy, a fixed income fund manager at First Metro Asset Management, said Congress'
timely passage of the budget gives the Senate a two week head start to study the bill before
sessions resume in November and reduces the chance of a re-enacted budget.
"We also think that PSEi might inch up higher today as the economy further opens on the
decision of the government to ease mobility restrictions," she said.
Stocks in Malaysia .KLSE , also dampened by political uncertainty in recent weeks, rose
0.7% after three straight days of losses.
Most regional currencies inched higher in narrow ranges with the market awaiting signs of
progress on a U.S. stimulus deal before making firmer bets.
Taiwan's dollar TWD=TP , the region's best performing currency so far this year as the
pandemic drives demand for tech gadgets from the export-reliant economy, continued to be an
outlier as it firmed nearly 1%.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields are down 7 basis points at 6.689%
** Top losers on Thailand's SETI include Thai-German Products TGPRO.BK down 14.29%, Apex
Development APEX.BK off 12.5% and G J Steel GJS.BK down 11.11%
** In the Philippines, top index gainers are GT Capital Holdings GTCAP.PS up 5.21%,
Jollibee Foods JFC.PS up 5.17% and Bloomberry Resorts BLOOM.PS up 3.78%
Asia stock indexes and currencies at 0409 GMT
COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD %
Japan JPY= -0.03 +3.02 .N225 1.14 0.09
China CNY=CFXS -0.02 +3.92 .SSEC -0.33 9.02
India INR=IN +0.09 -2.72 .NSEI 0.66 -2.70
Indonesia IDR= -0.20 -5.58 .JKSE 0.02 -18.97
Malaysia MYR= +0.02 -1.35 .KLSE 0.70 -4.68
Philippines PHP= +0.11 +4.20 .PSI 1.10 -23.70
S.Korea KRW=KFTC +0.41 +1.20 .KS11 0.70 7.29
Singapore SGD= +0.01 -0.98 .STI 0.55 -20.98
Taiwan TWD=TP +0.82 +4.74 .TWII 0.88 7.22
Thailand THB=TH -0.10 -4.20 .SETI -1.52 -23.10