Graphic: World FX rates tmsnrt.rs/ 2egbfVh.
Graphic: Foreign streams into Asian stocks tmsnrt.rs/ 3f2vwbA.
Malaysian stocks gain over 1%as Top 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 second.
directly weekly drop on Friday following a surge in COVID-19
cases in the country, while the Indonesian rupiah deteriorated as.
uncertainty over future financial policy dented financier.
sentiment.
After a bout of bargain buying on Thursday, the Manila.
benchmark index resumed decreases to fall nearly 1%, as.
the nation reported its most significant day-to-day spike in coronavirus.
infections in more than a week.
President Rodrigo Duterte on Wednesday kept partial.
quarantine steps in the capital of Manila for 2 weeks till.
the end of July, however cautioned that stricter curbs would be.
restored if the increase in new cases and deaths did not slow.
Foreign financiers discarded 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,.
being up to a near two-month low, a day after the central bank.
cut rate of interest for the 4th time this year.
Shares in Jakarta were down about 0.3%.
After lowering its benchmark interest rate to 4%, Bank.
Indonesia Governor Perry Warjiyo stated there would be no.
inflationary impact from a bond-buying plan revealed earlier.
this month, while stressing the importance of both fiscal and.
monetary levers to revive development.
Some experts said that pointed to more cuts in rates.
” While the problem sharing scheme might benefit Indonesia’s.
economy, there is worry that the central government wouldn’t be.
able to realise its scheduled spending,” stated Anthony Kevin, an.
financial expert at Mirae Property Sekuritas Indonesia.
” This is why market individuals were likewise looking for clues.
relating to the possibility of another rate cut.”.
Malaysian stocks were the leading performers, advancing.
over 1%, driven mostly by gains in Leading Glove Corp,.
the world’s biggest medical glove maker, which rose 16%.
U.S. Customizeds on Wednesday put a detention order on.
imports of products made by the business’s units, but the business.
stated it wanted to resolve the issue in two weeks and the rise in.
worldwide need implied it would have the ability to offer its item.
in other places.
HIGHLIGHTS:.
Leading gainers on FTSE Bursa Malaysia Kl Index.
consist of 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 City Pacific Investments.
Corp down 2.1%at 3.26 peso.
Indonesian 10- year standard yields are up 1.4 basis.
points at 7.057%.
Asia stock indexes and.
currencies at 0659 GMT.
COUNTRY FX RIC FX YTD INDEX STOCKS STOCKS.
DAILY %LY YTD %.
%.
Japan 0.07 1.32 -0.32 -4.06
China.
India 0.13 -4.94 0.67 -1115
Indonesi -0.61 -5.26 -0.34 -1934
19 1.16 0.
Philippi 0.24 2.53 -0.96 -2209
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.
