* Thailand sticks with plan to welcome vaccinated tourists
in July
* U.S. Inflation data expected on Thursday; payrolls miss
expectations
June 7 (Reuters) - Taiwan shares fell on Monday as the
country extended COVID-19 restrictions for another two weeks,
while Asia's emerging currency markets largely slipped into a
holding pattern as investors look ahead to key U.S. inflation
data later this week.
U.S. payrolls on Friday missed expectations, cooling talk
that early tapering of policy support by Federal Reserve was
needed to check the economy's recovery, supporting advances by
South Korea's won and Indonesia's rupiah.
Attention will now turn to a U.S. inflation report on Thursday.
"A higher-than-expected US CPI could add to the pattern of
building price pressures amid the recovery and put the spotlight
back on tapering talks," Barclays said in a note. Barclays
expects a 4.8% year-on-year rise in the consumer price index
(CPI) and a 0.41% month-on-month rise in May.
It added that "more robust indications of a tapering
discussion by the Fed imply risks of a dollar bounce."
Taiwan extended COVID-19 restrictions until June 28 to
battle a surge in infections that has shaken the island after
its relative success in containment in the past. The move
prompted a knee-jerk 2.1% drop in stocks before they
regained some lost ground to trade half a percent lower.
Stocks, which plunged in May when the outbreak forced
restrictions across the island, have jumped around 13% from
those lows as officials looked to ease concerns that the
export-focused economy will be hit.
Thailand, another country gripped by its own coronavirus
outbreak, said late on Friday it will go ahead with a plan next
month to reopen to vaccinated foreign visitors in what could be
a big boost to an economy reliant on tourism.
Stocks climbed 0.8% while the baht edged
0.1% higher.
Over in China, the yuan and shares
dipped.
The country's imports grew at their fastest pace in 10 years
in May, fuelled by surging commodity prices, while export growth
missed expectations.
Markets in Malaysia were closed for a public holiday.
HIGHLIGHTS:
** Taiwan to quarantine workers to control COVID spike at
tech firm
** Indonesian 10-year benchmark yields rise 0.70 basis
points to 6.447%
** China's three-child policy unlikely to boost birthrate -
Moody's
Asia stock indexes and currencies at 0334 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS
DAILY % YTD % DAILY % YTD %
Japan -0.05 -5.75 0.22 5.69
China -0.08 +2.00 -0.11 3.30
India +0.00 +0.10 0.00 12.08
Indonesia +0.18 -1.58 0.05 1.49
Malaysia - -2.57 - -3.00
Philippines 0.00 +0.69 -0.32 -5.12
S.Korea +0.42 -2.30 0.22 13.01
Singapore -0.03 -0.25 0.75 11.63
Taiwan +0.03 +2.78 -0.47 15.84
Thailand +0.13 -4.01 0.75 12.02
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Simon Cameron-Moore)
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