(Refiles to fix typo in last bullet in highlights to
"Singapore"s")
* Taiwan stocks hit 2-wk high
* Singapore stocks hit lowest in 3 months
* Philippine peso volatile due to foreign trading - analyst
By Arundhati Dutta
Aug 27 (Reuters) - Taiwanese stocks extended their winning
run to a fifth session on Friday, reflecting the country"s
vaccine progress over the week, while equities in Singapore fell
as traders cut risk exposure ahead of Fed Chair Jerome Powell"s
Jackson Hole speech.
Most other equity markets in emerging Asia were flat or
lower after rallying for most of the week, as investors were
spooked by Fed officials urging the central bank to begin paring
bond purchases. Powell will speak at the Fed"s annual symposium
later on Friday (1400 GMT).
The Singapore stock benchmark hit its lowest in three
months.
"The "taper tantrum" syndrome fear has resurfaced again and
plus we head into the weekend with geopolitical risk on the rise
in the Middle East, " said Kelvin Wong, an analyst at CMC
Markets.
"Most traders do not want to have a significant risk on
exposure as we head into Jackson Hole and over the weekend, " he
added.
The Philippine peso weakened as much as 0.3% against
the dollar, before paring some losses later the day.
"PHP opened on the backfoot today in reaction to comments
from authorities suggesting a much more protracted period of
subdued economic activity, " said Nicholas Mapa, senior
economist at ING.
Local media here
reported that Socioeconomic Planning Secretary Karl Kendrick
Chua forecast that the Philippines could return to pre-COVID GDP
levels by as late as early 2023.
The peso"s volatility was also due to foreign trading in the
local market, Mapa said.
Taiwanese stocks hit their highest in over two
weeks.
The island launched its first domestic COVID-19 vaccine this
week, and on Thursday the government said said BioNTech SE
COVID-19 vaccines are available earlier than
expected.
The South Korean won gained some ground after the
Bank of Korea hiked interest rates for the first time in three
years on Thursday.
Malaysia stocks were up for a sixth session and the
ringgit strengthened as worries over political
instability continued to fade after the appointment of the
country"s new prime minister last Saturday.
HIGHLIGHTS
**Indonesian 3-year benchmark yields are up 2 basis points
at 4.744%
**Malaysia"s 3-year benchmark yield is up 0.1 basis points
at 2.363%
**Singapore"s 10-year benchmark yield is unchanged at 1.433%
Asia stock indexes and currencies
at 0425 GMT
COUNTRY FX RIC FX FX INDE STOCKS STOCKS
DAILY % YTD % X DAILY YTD %
%
Japan +0.07 -6.14 <.N2 -0.6 0.48
25>
China
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