* S.Korean stocks hit lowest since March-end
* Philippine stocks up for 5th day
* Singapore rises nearly 1%, to ease border curbs
By Arundhati Dutta
Aug 20 (Reuters) - Most emerging Asian currencies weakened
on Friday, with Indonesia"s rupiah falling the most, as the U.S.
dollar stayed firm while Singapore stocks rose on the country"s
plans to ease some COVID-19 border curbs.
The greenback was little changed from a nine-month high
touched in the previous session on fears that the Delta
coronavirus variant could delay global economic recovery and
prospects of an early stimulus tapering by the Federal Reserve.
"For now, we see this as near-term narrative. Central banks
are not u-turning on their tightening trajectory just yet,"
analysts at OCBC wrote in a note.
The Indonesian rupiah fell as much as 0.5%, as data
showed the country"s current account deficit widened in the
second quarter to 0.8% of its gross domestic product.
Singapore stocks rose as much as 0.9% after the
country"s aviation regulator said it would allow quarantine-free
entry from next month to travellers from certain nations.
The South Korean won fell to an 11-month low,
after having weakened in eight of the last nine sessions.
"The authorities have put this down to short-term demand
supply imbalances, potentially necessitating BoK (Bank of Korea)
intervention to smooth excess volatility," Mizuho Bank analysts
wrote in a note.
South Korea"s stock benchmark hit its lowest since
March-end, and was headed for its worst weekly decline in nearly
seven months.
The country has extended social distancing curbs for two
weeks to ward off a surge in coronavirus cases.
In the Philippines, the stock benchmark extended
gains to a fifth day and the peso strengthened after
President Rodrigo Duterte approved the easing of COVID-19 curbs
in the capital region.
Malaysian stocks edged higher. The country"s king is
expected to announce the appointment of a new prime minister
following a meeting with other royal rulers later in the day.
Investors are also looking out for China"s benchmark lending
rate decision later on Friday. A Reuters survey expects no
changes for the 16th straight month.
"Although signs of slowing economic recovery have fuelled
the calls to cut rates, the lending rate is expected to remain
unchanged, with some injection of liquidity into the financial
system this week through its medium-term loans," Yeap Jun Rong,
a market strategist at IG.
HIGHLIGHTS:
**Indonesian 10-year benchmark yields are up 1.3 basis
points at 6.339%
**Singapore"s 10-year benchmark yield is up 0.4 basis points
at 1.384%
**Thailand"s 3-year benchmark yield is up 0.5 basis points
at 0.49%
Asia stock indexes and currencies
at 0405 GMT
COUNTRY FX RIC FX FX INDE STOCKS STOCKS
DAILY % YTD % X DAILY YTD %
%
Japan -0.02 -5.92 <.N2 -0.81 -1.40
25>
China
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