* Indonesia imposes limitations to tackle the virus * Thailand allows vaccinated tourists to visit Phuket FX rates around the world are depicted graphically. tmsnrt.rs/2RBWI5E
* tmsnrt.rs/2zpUAr4 Asian stock markets
Soumyajit Saha contributed to this article.
Reuters, 1 July – On Thursday, Philippine equities climbed to their highest level in more than four months, supported by positive data showing a drop in unemployment and an increase in manufacturing activity.
After the statistics agency reported that unemployment in the Philippines fell to 7.7% in May, the lowest level since March, the Manila index soared about 1.5 percent, its greatest advance in over three weeks.
The IHS Markit manufacturing PMI (Purchasing Managers’ Index) climbed to 50.8 in June from 49.9 in May, indicating a positive trend in the manufacturing sector.
According to Jennifer Mae V. Lomboy, a fund manager with First Metro Asset Management, unemployment had decreased as “stricter quarantine measures were dropped in important cities in the capital.”
“The expansion of manufacturing PMI recorded in June following two straight months of sub-50 prints” boosted sentiment, she added.
The Philippines, on the other hand, is still dealing with a virus outbreak, with restrictions on movement and business in the capital and surrounding provinces being extended this week.
According to a Reuters survey, investors have slashed their bets across all Asian currencies due to the spread of the Delta version of the new coronavirus and the US dollar’s ascent to three-month highs.
Stock markets in Indonesia, one of the worst-affected countries, gave up some early gains after the country’s president confirmed emergency measures, including tighter movement restrictions, to stem a surge in cases.
In June, Indonesia recorded a slowing in annual inflation to 1.33 percent, significantly below the desired range of 2 to 4 percent.
The rupiah fell to its lowest level in more than two months.
“Governor Warjiyo of the Bank Indonesia is expected to maintain policy rates at historically low levels… Recent pressure on IDR due to fears of a virus return, however, will likely prevent BI from lowering rates further in the near future “In a note, ING senior economist Nicholas Mapa stated.
Thai equities rose somewhat on Thursday, as the tourism-dependent economy saw the reopening of the resort island of Phuket to vaccinated international travelers.
HIGHLIGHTS
** Indonesian 10-year benchmark rates are down 1.6 basis points to 6.614 percent. ** Top gainers on the Philippine stock exchange include Robinsons Retail Holdings Inc and DMCI Holdings Inc.
At 05:35 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
-0.03 -7.10 -0.43 4.45 Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan Japan
-0.14 +0.95 0.28 3.69 China China China China China China China China China China China China China China China China China China China China
India -0.07 -1.77 -0.18 12.24 India -0.07 -1.77 -0.18
-0.21 -3.34 -0.09 0.02 -0.21 -3.34 -0.09 0.02 -0.21 -3.34
Malaysia -0.07 -3.20 0.49 -5.35 Malaysia -0.07 -3.20 0.49 -5.35 Malaysia -0.07 -3
Philippines -0.54 -2.23 0.90 -2.46 Philippines -0.54 -2.23 0.90 -2.46 Philippines -0.54 -2
S.Korea -0.58 -4.11 -0.42 14.24 S.Korea -0.58 -4.11 -0.42
Singapore -0.07 -1.87 -0.14 9.93 Singapore -0.07 -1.87 -0.14
Taiwan +0.00 +2.20 -0.29 20.17 Taiwan +0.00 +2.20 -0.29 Taiwan +0.00 +2.20 -0.29
Thailand +0.09 -6.40 0.22 9.79 +0.09 -6.40 0.22 9.79 +0.09 -6.40 0.
(Bengaluru-based reporter Soumyajit Saha contributed to this report; Uttaresh.V edited it.)/n
Read More