* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* Singapore budget: S$11 bln set aside for COVID-19 relief
* Indonesia cenbank seen cutting interest rates this week
* S. Korea stocks, won continue rally
By Anushka Trivedi
Feb 16 (Reuters) - Aviation and tourism stocks dominated
gains in Singapore on Tuesday after the city-state pledged more
fiscal support for the hard-hit sectors, while a likely flare-up
in U.S.-China tensions pressured most Asian currencies.
Singapore's 2021 budget unveiled S$11 billion ($8.31
billion) for COVID-19 relief and S$870 million in aid for the
aviation sector, sending the Straits Times Index .STI 0.5%
higher a day after the economy posted a smaller-than-expected
contraction in the fourth quarter. Shares of Singapore Airlines SIAL.SI climbed 1.4% to top
the index, while in-flight catering service provider SATS Ltd
SATS.SI rose 1%.
DBS analysts expect the 2021 budget deficit target to be
between S$10 billion and S$12 billion, sharply down from the
record S$74.2 billion figure pencilled in last year to aid the
economy. The official figure was yet to be released as the
presentation was ongoing. In line with global markets, hopes that vaccine progress
would aid an economic recovery kept all Asian equities in the
black, with Philippine shares .PSI climbing 1.2% to lead
gains.
On the flip side, the Singapore dollar SGD= , the
Philippine peso PHP= and the Indonesian rupiah IDR= fell
after the offshore yuan CNH=D3 weakened on media reports that
Beijing may curb exports of rare earth minerals that are crucial
to U.S. defence contractors.
The development threatens to worsen ties between the two
economic giants, which are yet to show any signs of improvement
under U.S. President Joe Biden's administration. The rupiah was also hit by investors pricing in a likely 25
basis point interest rate cut at the Bank Indonesia's (BI)
meeting on Thursday. Meanwhile, South Korea's won KRW=KFTC rose for a fifth day
and the benchmark stock index KOSPI .KS11 closed at a
three-week high as its government struck a deal with Novavax
NVAX.O and Pfizer PFE.N to get vaccines for 23 million more
people. KRW/
China and Taiwan's financial markets were closed for a
holiday.
HIGHLIGHTS
** Indonesian 10-year benchmark yields are up 5.1 basis
points at 6.297%
** Thailand .SETI and Indonesia .JKSE shares up 0.3%
** Top gainers on the Jakarta stock index .JKSE include
MNC Land Tbk PT KPIG.JK , up 34.3%, and Bank Bumi Arta Tbk PT
BNBA.JK , up 24.7%
Asia stock indexes and currencies at 0759 GMT
COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD %
Japan JPY= -0.08 -2.09 .N225 1.28 11.02
India INR=IN -0.11 +0.42 .NSEI -0.29 9.21
Indonesia IDR= -0.07 +0.86 .JKSE 0.41 5.30
Malaysia MYR= +0.07 -0.22 .KLSE 0.05 -1.13
Philippines PHP= -0.48 -0.34 .PSI 1.22 -1.34
S.Korea KRW=KFTC +0.12 -1.26 .KS11 0.52 10.08
Singapore SGD= -0.09 -0.23 .STI 0.40 3.49
Thailand THB=TH +0.03 +0.30 .SETI 0.16 5.23
($1 = 1.3231 Singapore dollars)