EMERGING MARKETS-Asian shares blended as virus fears weigh, Singapore leads losses

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EMERGING MARKETS-Asian shares blended as virus fears weigh, Singapore leads losses



* Manila sees virus curbs lengthen
* Indonesia well being minister says instances have peaked
* Malaysia experiences document virus deaths

By Soumyajit Saha
Aug 3 (Reuters) – Asian equities have been blended on Tuesday, as
uncertainties surrounding the influence of rising coronavirus instances
within the area weighed, with Singapore shares main the losses
forward of essential earnings out later this week.
Singapore’s benchmark index fell greater than 1% in its
worst session in over two weeks, as losses within the monetary
sector drove the bourse decrease.
“Localised issue is prone to play extra important
contribution to the STI’s motion because of the upcoming three
native banks’ Q2 earnings releases… it might be a much less rosy
earnings steerage given the worldwide “peak progress” narrative has
intensified,” mentioned Kelvin Wong, a market analyst at CMC Markets
(Singapore).
Index heavyweights UOBH and OCBC are
slated to report quarterly earnings on Wednesday, whereas peer DBS
Group will launch its quarterly outcomes on Thursday.
In the meantime, virus-led restrictions in Philippines’ capital
Manila have been prolonged on Monday, whereas neighbouring Malaysia
reported a document 219 coronavirus deaths.

Indonesia shares rose after the nation’s well being
minister mentioned on Monday that the wave of coronavirus infections
had handed its peak and the central financial institution promised to carry charges
at document lows not less than till late 2022.

A Reuters ballot confirmed the nation, Southeast Asia’s largest
financial system, was anticipated to report an financial progress of greater than
6% within the second quarter later this week.
The rupiah strengthened as a lot as 0.5%, and was on
observe for its greatest session since Might 10.
Thai shares additionally rose, forward of a choice on the
nation’s key rates of interest on Wednesday. Economists count on the
Financial institution of Thailand to maintain charges at a document low, a Reuters ballot
confirmed.

HIGHLIGHTS

** Indonesian 10-year benchmark yields down 2 foundation factors at
6.284%
** Singapore’s 10-year benchmark yield down 2 foundation factors at
1.281%

Asia inventory indexes and
currencies at 0403 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS
DAILY YTD % DAILY YTD %
% %
Japan +0.05 -5.48 -0.79 0.43
China -0.05 +0.98 0.00 -0.25
India +0.00 -1.72 0.28 13.94
Indonesia +0.49 -2.16 0.47 2.44
Malaysia +0.01 -4.81 -0.18 -8.41
Philippines +0.02 -3.67 0.53 -9.23
S.Korea -0.03 -5.65 -0.04 12.12
Singapore +0.12 -2.27 -0.85 10.22
Taiwan -0.03 +1.94 0.11 18.94
Thailand -0.09 -9.10 0.28 5.52

(Reporting by Soumyajit Saha in Bengaluru. Modifying by Gerry
Doyle)



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