* Thai markets closed due to a holiday * S. Korea shares set to close higher for sixth week * Ringgit supported by high crude prices By Anushka Trivedi Dec 11 (Reuters) - Philippine shares jumped on Friday after the country"s Congress approved the 2021 budget this week aimed at helping the pandemic-hit economy, while South Korean stocks were underpinned by upbeat exports data. The Philippine index surged 2.1%, the second consecutive day of gains. While President Rodrigo Duterte"s office has yet to receive the budget bill approved by Congress on Wednesday, his spokesman said Duterte would scrutinise the spending plan and do his best to approve the 4.5 trillion pesos ($93.61 billion) budget on time. The Philippines has been hard hit by the coronavirus, and the government is now forecasting a deeper 8.5%-9.5% contraction this year. Bangko Sentral ng Pilipinas is largely expected to hold fire at its monetary policy meeting next week, analysts said, adding they could not rule out a rate cut in 2021. "The optimism about the national budget being almost passed" is likely driving the share price gains, said Jennifer Lomboy, fixed income fund manager at First Metro Asset. "The possibility of yet another rate cut early next year also drives the market as investors turn to equities in search of better yields," said Lomboy in Manila. South Korean shares were poised for the sixth straight week of gains, firming 0.8% on upbeat data, even though a third wave of virus infections overshadowed the outlook. South Korea"s exports during the first 10 days of December jumped 26.9% from a year earlier, customs agency data showed on Friday. Other Asian stocks also rose, with foreign investors lured by low valuations and high yields amid signs that regional economies are rebounding. Shares in Malaysia and in India traded higher on Friday. Emerging Asian currencies broadly firmed against a weaker greenback, with Taiwan"s dollar advancing 1% to lead gains. Malaysia"s ringgit gained 0.2% to hit its highest in over seven months as crude prices rallied above $50 per barrel mark. Malaysia is a net exporter of oil. Financial markets in Thailand were shut for a holiday. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 1 basis points at 6.205% ** Top gainers on the Jakarta stock index include Pool Advista Finance Tbk PT up 34.4% and Apexindo Pratama Duta Tbk PT up 24.8% ** Top gainers on FTSE Bursa Malaysia Kl Index include Public Bank Bhd up 10.7% and Malayan Banking Bhd up 5.1% Asia stock indexes and currencies at 0402 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD % Japan +0.14 +4.38 -0.58 12.45 China +0.11 +6.50 -1.03 9.46 India +0.00 -3.09 0.45 11.26 Indonesia +0.07 -1.42 0.02 -5.79 Malaysia +0.17 +0.89 1.67 5.87 Philippin -0.03 +5.37 2.07 -6.56 es S.Korea -0.13 +6.18 0.76 25.92 Singapore +0.11 +0.80 0.47 -11.94 Taiwan +1.09 +6.76 -0.61 18.05 ($1 = 48.0500 Philippine pesos) (Reporting by Anushka Trivedi in Bengaluru, additional reporting by Karen Lema; Editing by Ana Nicolaci da Costa)