* Thai markets hit a one-week high * Philippine stocks are on course to increase for the second month in a row * FX rates around the world are depicted graphically. tmsnrt.rs/2RBWI5E
* tmsnrt.rs/2zpUAr4 Asian stock markets
Soumyajit Saha contributed to this article.
30 JUNE (Reuters) – On Wednesday, Singapore stocks were set for their greatest gain in almost a month as the country’s central bank suggested annual economic growth could exceed projections, while the rupiah dropped as the number of new COVID-19 cases in Indonesia increased.
The head of Singapore’s Monetary Authority, Ravi Menon, predicted that the city-economic state’s growth could exceed the upper end of the official projection range of 4% to 6% this year, boosted by a resurgence in global demand and progress in the domestic vaccination program.
Over the last few days, government data revealed a decrease in new coronavirus cases, while local media reported an increase in immunization efforts.
The FTSE Strait Times index surged 1.7 percent in its highest session since May 18, albeit it was still on course to lose 0.8 percent in the second quarter.
The rupiah of Indonesia, on the other hand, has plummeted to its lowest level since April 23, as the country has experienced daily COVID-19 infections of over 20,000 in recent days.
“The rise in hospitalizations is dragging on confidence… speculations that the country is considering more restrictions to combat the Delta variety have caused investors to reduce their exposure to the rupiah,” said Chang Wei Liang, a macro strategist at DBS bank.
“We expect the rupiah to continue to fall until cases reach a pinnacle.”
Indonesian President Joko Widodo announced that emergency social restrictions are being finalized in the wake of an increase in coronavirus cases.
Philippine equities dipped as well, a day after the government announced that mobility and business restrictions in the capital and adjacent provinces would be prolonged until mid-July.
The benchmark index, on the other hand, climbed over 4% for the month, marking the second consecutive monthly rise.
Thai stocks soared to their highest level in a week, building on Tuesday’s gains, with the market forecasting a 0.5 percent increase for the June quarter.
Most emerging Asian currencies were flat, with the exception of the Korean won, which rose 0.3 percent.
Regional markets mainly shrugged off a four-month drop in Chinese manufacturing activity in June, owing to rising raw material prices and virus-related interruptions.
HIGHLIGHTS ** Indonesian 10-year benchmark yields have risen 1.8 basis points to 6.628 percent. ** Malaysia’s 10-year benchmark yield has fallen 2.3 basis points to 3.292 percent.
At 0556 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
Japan +0.04 -6.54 0.12 5.11 Japan +0.04 -6.54 0.12 5.11 Japan +0.04 -6.
China +1.10 0.39 3.28 +1.10 0.39 3.28 +1.10 0.39 3.28 +1.10 0.39
India -0.20 -1.75 0.54 13.24 -0.20 -1.75 0.54 13.24 -0.20 -1.75
Indonesia -0.34 -3.37 0.81 0.30 -0.34 -3.37 0.81 0.30 -0.34 -3.37
+0.00 -3.13 -0.36 -5.20 Malaysia +0.00 -3.13 -0.36 -5.20 Malaysia +0.00 -3.13
Philippines -0.10 -1.46 -0.79 -3.33 -3.33 -3.33 -3.33 -3.33 -3.33 -3.33
S.Korea +0.12 -3.64 0.46 14.91 S.Korea +0.12 -3.64 0.46 14.91 S.Korea +0.1
Singapore +0.04 -1.76 1.51 10.28 Singapore +0.04 -1.76 1.51 10.28 Singapore +0.04 -1.
Taiwan +0.06 +2.12 0.89 20.52 Taiwan +0.06 +2.12 0.89 20.52 Taiwan +0.06 +2.12
Thailand +0.09 -6.40 0.26 10.08 Thailand +0.09 -6.40 0.26 10.08 Thailand +0.09 -6.
(Bengaluru-based reporter Soumyajit Saha contributed to this report; Rashmi Aich edited it.)
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