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* Real estate, consumer firms lift Philippine shares
* Singapore Q3 adv GDP seen +6.6% y/y - Reuters poll
* Indian rupee hovers near late-April lows
By Sameer Manekar
Oct 11 (Reuters) - Philippine shares soared nearly 4% on
Monday as easing coronavirus restrictions boosted real estate
and consumer firms, while stocks in Malaysia and India added
about half a percent each.
Currencies in the region edged higher, with the Malaysian
ringgit and Singapore dollar rising on travel curb relaxations,
while the Philippine peso weakened 0.4% to mark its
second straight day of losses.
The ringgit scaled a near one-month peak and equities
advanced for a fifth consecutive day after the
government lifted interstate and international travel
restrictions from Monday.
The Singapore dollar firmed 0.2% to its highest in
two weeks, while equities touched a near two-month peak
after the government opened its borders to more countries for
quarantine-free travel.
Investors will be watching out for Singapore"s advanced
third-quarter economic growth data expected later in the week.
Analysts at OCBC Bank expect a moderation from second-quarter"s
14.7% year-on-year growth.
The Monetary Authority of Singapore is likely to keep its
monetary policy settings unchanged at this juncture, but may
signal a need for recalibration in 2022, the analysts said in a
note.
A Reuters poll showed the city-state"s third-quarter
preliminary growth will be 6.6% on year.
Meanwhile, a soft U.S. payrolls figure last week did little
to alter market expectations of a tapering of bond purchases by
the U.S. Federal Reserve, pressuring risk-sensitive Asian
markets as the U.S. dollar firmed and Treasury yields jumped.
In India, the rupee slipped 0.2%, hovering near its
late-April lows after the Reserve Bank of India (RBI) last week
kept interest rates steady at record lows and reiterated the
need to unwind pandemic-era stimulus.
"The RBI will have to exhaust and expertly manipulate its
suite of tools led by liquidity if it were to pre-empt a more
serious sell-down in the India rupee," analysts at Mizuho Bank
said in a note on Monday.
Investors now wait for India"s September inflation data on
Tuesday. A Reuters poll of economists expect an easing in retail
inflation as moderating food prices offset a surge in the cost
of crude oil and fuel.
Philippine stocks surged 3.8% to their highest since
late January, with real estate and consumer firms boosting the
benchmark. Real estate conglomerate Ayala Land jumped
6.4% after announcing an issue of fixed-rate bonds to raise up
to 2.75 billion pesos.
Markets in South Korea, and Taiwan
were closed for a holiday.
HIGHLIGHTS:
** Indonesian 10-year benchmark yields edges higher to
6.357%
** India says it has ample coal stocks for power sector -
** China"s Shanghai Composite Index rises as much as
0.6% to 3,614.70
** Malaysia end-Sept palm oil stocks drop 7% to 1.75 mln T -
MPOB -
Asia stock indexes and
currencies at 0600 GMT
COUNTRY FX RIC FX FX INDE STOCK STOCK
DAILY YTD X S S YTD
% % DAILY %
%
Japan -0.44 -8.4 <.N2 1.45 3.68
1 25>
China
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