* Graphic: FX rates around the world tmsnrt.rs/2RBWI5E
* Stock markets in Asia: tmsnrt.rs/2zpUAr4
* Thai stocks end an eight-session losing streak * Vietnam’s stock market has reached new highs as the country’s economic growth accelerates.
Soumyajit Saha contributed to this article.
Reuters, June 29 – On Tuesday, the Thai baht sank to its lowest level in almost a year, while the Indonesian rupiah touched a two-month low, as local coronavirus infections increased and broader concerns about the Delta variety kept the safe-haven US dollar solid.
The dollar remained at a two-month high as investors awaited the release of a U.S. jobs report on Friday, which could impact the Federal Reserve’s stance on stimulus reduction and interest rate hikes.
The baht has broken above the 32 mark versus the dollar for the first time since May 2020, as the country confronts its biggest coronavirus outbreak in decades, putting additional strain on the tourism-dependent economy.
The rupiah fell to its lowest level since April in Indonesia, where virus infections have tripled in the last three weeks.
“There is a worry of more disruption due to the Delta variant’s spread… the risk-off mentality in the market is helping the US dollar while hurting local currencies like the baht,” said Sim Moh Siong, a forex strategist at Bank of Singapore.
Thailand’s central bank, which expects the economy to recover to pre-pandemic levels in the first quarter of 2023, said it was exploring changing the foreign exchange regulation framework to help the economy cope better with volatility.
Jakarta stocks, which had fallen 1.4 percent on Monday, rebounded 0.7 percent on Tuesday to outperform their rivals. On Monday, President Joko Widodo announced that vaccinations for children between 12 to 17 years old might begin soon.
Meanwhile, Vietnam’s stock market soared to new highs after data revealed that the country’s economic development increased in the second quarter of the year and that the country’s trade deficit reduced in June.
After four straight sessions of advances, Singapore stocks lost more than 1%, while South Korean equities plummeted for the third straight session on fears that the more infectious Delta variety could undermine the country’s economic recovery.
After eight days of losses, Thai stocks made a 0.4 percent gain.
** Philippines sells $3 billion in foreign bonds to seek funds for budget support ** Indonesian 10-year benchmark yields rise 1.1 basis points to 6.602 percent ** Malaysia’s 10-year benchmark yield rises 1.5 basis points to 3.322 percent
At 0313 GMT, Asian stock indices and currencies were trading.
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD percent DAILY YTD percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent percent
+0.10 -6.58 -0.88 4.91 Japan +0.10 -6.58 -0.88 4.91 Japan +0.10 -6.58
-0.09 +1.03 -0.74 3.07 China China China China China China China China China China China China China China China China China China China China China China China China
India +0.00 -1.52 0.00 13.11 India +0.00 -1.52 0.00 13.11 India +0.00 -1.52
Indonesia -0.28 -3.04 0.73 0.07 -0.28 -3.04 0.73 0.07 -0.28 -3.04
Malaysia -0.18 -3.14 -0.13 -5.20 -0.18 -3.14 -0.13 -5.20 -0.18 -3.14
+0.25 -1.05 -0.12 -2.94 Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines Philippines
S.Korea +0.05 -3.85 -0.39 14.46 S.Korea +0.05 -3.85 -0.39
Singapore -0.04 -1.67 -0.79 9.08 Singapore -0.04 -1.67 -0.79
Taiwan +0.03 +2.09 0.16 19.59 Taiwan +0.03 +2.09 0.16 19.59 Taiwan +0.03 +2.09
Thailand -0.28 -6.46 0.38 9.37 Thailand -0.28 -6.46 0.38 9.37 Thailand -0.28 -6
(Bengaluru-based reporter Soumyajit Saha contributed to this report; Ana Nicolaci da Costa edited it.)
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