Graphic: World FX rates tmsnrt.rs/ 2egbfVh. Graphic: Foreign flows into Asian stocks tmsnrt.rs/ 3f2vwbA. Malaysian stocks gain over 1%as Leading Glove rallies. Philippine stocks set for weekly decline of over 2%. Indonesian rupiah hits near two-month low. By Shriya Ramakrishnan. July 17 (Reuters) - Philippine shares were set for a 2nd. directly weekly drop on Friday following a rise in COVID-19 cases in the country, while the Indonesian rupiah compromised as. unpredictability over future monetary policy dented financier. sentiment. After a bout of deal buying on Thursday, the Manila. benchmark index resumed decreases to fall almost 1%, as. the country reported its biggest daily spike in coronavirus. infections in more than a week. President Rodrigo Duterte on Wednesday maintained partial. quarantine steps in the capital of Manila for two weeks until. the end of July, however alerted that more stringent curbs would be. restored if the rise in brand-new cases and deaths did not slow. Foreign financiers dumped Philippine shares worth $647. million as of Thursday, after a $1149 million sell-off last. week, according to exchange information. Amongst Asian currencies, the rupiah was the worst hit,. falling to a near two-month low, a day after the central bank. cut rates of interest for the fourth time this year. Shares in Jakarta were down about 0.3%. After lowering its benchmark rate of interest to 4%, Bank. Indonesia Governor Perry Warjiyo said there would be no. inflationary impact from a bond-buying plan announced earlier. this month, while stressing the value of both financial and. financial levers to revive growth. Some experts said that pointed to more cuts in rates. " While the problem sharing scheme might benefit Indonesia's. economy, there is fear that the main federal government would not be. able to realise its planned costs," said Anthony Kevin, an. economic expert at Mirae Property Sekuritas Indonesia. " This is why market individuals were likewise searching for hints. relating to the possibility of another rate cut.". Malaysian stocks were the leading performers, advancing. over 1%, driven mainly by gains in Leading Glove Corp,. the world's biggest medical glove maker, which rose 16%. U.S. Customs on Wednesday placed a detention order on. imports of products made by the business's systems, but the company. said it wanted to deal with the concern in two weeks and the rise in. global need implied it would be able to offer its item. somewhere else. HIGHLIGHTS:. Top gainers on FTSE Bursa Malaysia Kl Index. include Top Glove Corporation Bhd up 15.53%at 22.76 ringgit, Hartalega Holdings Bhd up 5.9%at 16.52 ringgit, Hap Seng Consolidated Bhd up 2.32%at 8.83 ringgit. In the Philippines, top index decliners are SM Prime. Holdings Inc down 4.59%at 31.2 peso; Ayala Land Inc. down 3.65%at 31.7 peso; and Metro Pacific Investments. Corp down 2.1%at 3.26 peso. Indonesian 10- year benchmark yields are up 1.4 basis. points at 7.057%. Asia stock indexes and. currencies at 0659 GMT. NATION FX RIC FX YTD INDEX STOCKS STOCKS. DAILY %LY YTD %. %. Japan 0.32 -0. ChinaIndia 0.94 0. Indonesi -0.61 -5.26 -0.34 -1934 19 1.16 0. Philippi 0.53 -0. nes. S.Korea Singapor 0.04 -3.39 -0.10 -1867 e. Taiwan 0.37 2.10 0.20 1.54 Thailand -0.59 0. ( Reporting by Shriya Ramakrishnan and Gaurav Dogra in. Bengaluru; Editing by Patrick Graham, Bernard Orr).
Reuters.
