* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
* Thailand benchmark hits highest since June 11
* Singapore to return to growth in 2021 - govt
* Japan stock markets closed for the day
By Shruti Sonal
Nov 23 (Reuters) - Thailand shares .SETI climbed nearly 2%
to hit their highest in more than five months on Monday, leading
broader gains in emerging Asian stock markets, while Singapore
stocks were lifted by better-than-expected third-quarter GDP
numbers.
Tourism-reliant Thai shares were boosted after AstraZeneca
AZN.L said tests showed its COVID-19 vaccine could be 90%
effective, adding to a slew of positive developments on vaccines
which have improved the mood of investors globally. Bangkok has suffered more than most this year as
holiday-making globally ground to a halt and the slide into
global recession ate into demand for its exports, meaning it may
now be among those to benefit more from a recovery.
Analysts also said that new measures unveiled by the Thai
central bank aimed at balancing capital flows after warning a
rapid jump in the baht THB=TH may have limited impact on
foreign investors. "Foreign investors could view that the recent FX measures
from the Bank of Thailand seem to be less effective in term of
changing the direction of Thai Baht which would hurt the return
for foreign investors," said Poon Panichpibool, a markets
strategist at Krung Thai Bank.
"Thus, stronger THB trend will continue and still benefit
foreign investors whether they invest in Thai equities or
bonds."
However, risks from political uncertainty remain and
investors should be prepared for any short-term volatility, he
warned, as protests in Bangkok continued on Saturday, with calls
to bring down the government and reform the monarchy.
Singapore shares .STI climbed more than 1% to hit their
highest since March 11 as data showed the city-state's economy
contracted less than initially estimated in the third quarter
and the government forecast it would bounce back to growth next
year. Singapore Airlines SIAL.SI and in-flight catering service
provider SATS Ltd SATS.SI , however, fell over 1% each as the
introduction of a travel bubble between Hong Kong and Singapore
was postponed for two weeks. Most currencies in the region were subdued, as China's yuan
edged lower against the dollar on signs of fresh tensions
between Beijing and Washington. Japanese stock markets were closed for a holiday.
HIGHLIGHTS:
** Thai school students protest against government, demand
reform ** Top gainers on the Thailand's SETI .SETI include TWZ
Corporation PCL TWZ.BK , Jasmine International PCL JAS.BK ,
Singha Estate PCL S.BK
** Singapore's 10-year benchmark yield is down 1.2 basis
points at 0.92%
Asia stock indexes and currencies
at 0711 GMT
COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCKS
DAILY % DAILY % YTD %
%
Japan JPY= +0.03 +4.61 .N225 - 7.9%
China