* Graphic: World FX rates tmsnrt.rs/2egbfVh
* Asian stocks tmsnrt.rs/3f2vwbA
* Taiwan dollar advances for a fourth straight day
* Indonesia reports daily record COVID-19 deaths
* Philippine stocks set to lose about 3% this week
By Shriya Ramakrishnan
Jan 22 (Reuters) - Indonesian shares fell more than 1% on
Friday after the country reported a record jump in COVID-19
deaths for the second time this week, while a steady dollar put
a brake on recent rises in Asian currencies.
The record fatalities and sharp rise in daily cases in
recent weeks have put Indonesia"s hospitals under serious
strain, even as the country began a mass vaccination campaign
earlier this month.
Shares in Jakarta slipped 1.5%, and the rupiah
dipped 0.2%. The country"s central bank kept key policy
rates unchanged on Thursday, but vowed to direct all instruments
toward supporting growth.
"The risk is that with more governments in the region (Asia)
procuring vaccine deals, the hopes of mass immunisation run
ahead of the reality resulting in a pre-emptive move back to
pre-COVID normality and a further deterioration in the pandemic
situation," analysts at Mizuho Bank wrote in a note.
Most emerging Asian currencies weakened as the dollar index
picked up steam after three days of declines, as optimism
about more pandemic relief in the United States under the Biden
administration drove up demand for riskier assets.
The South Korean won weakened 0.4% against the
greenback, and the Malaysian ringgit and Singapore dollar
each traded 0.2% lower.
Philippine shares also sank more than 1% on a
continued sell-off led by foreign investors, with almost all
sectors in the red. The benchmark index was headed for a sixth
straight day of losses and a near 3% drop for the week.
"Week-to-date, foreign stock investment declined about
$70.86 million.. that is the most in over one month," said
Daniel Dubrovsky, a strategist at trading firm DailyFX.
"I think some of the pessimism had to do with the
government"s preference for a Chinese vaccine which has a lower
efficacy rate compared to others."
Stocks in Thailand shed half a percent and the baht
gave up 0.2% as the country"s finance minister warned
the economy could grow less than earlier forecast this year,
following its biggest coronavirus outbreak yet.
Taiwan"s dollar extended its winning streak to a
fourth consecutive session, strengthening more than 1% against
the dollar.
Taiwan"s central bank said on Thursday it would punish four
unnamed foreign banks for helping grains firms speculate in the
deliverable forwards foreign exchange market, as it moved to
slow the Taiwan dollar"s rise.
The currency"s strength risks making manufacturing exports
less competitive. The Taiwan dollar is up nearly 2% this year
following a 5.3% gain in 2020.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields are up 1 basis points
at 6.301%
** Top losers on the Jakarta stock index include
Gihon Telekomunikasi Indonesia Tbk PT down 6.99% at
1730 rupiah; Sumber Global Energy Tbk PT down 6.95% at
870 rupiah
** In the Philippines, top index losers are PLDT Inc
down 3.14% at 1390 pesos; SM Investments Corp
down 3% at 1035 pesos
Asia stock indexes and
currencies at 0458 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS
DAILY % YTD % DAILY YTD %
%
Japan -0.09 -0.32 -0.29 4.48
China
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