EMERGING MARKETS-Asian shares, FX drop on virus woes; Singapore shares defy broader gloom

EMERGING MARKETS-Asian stocks, FX drop on virus woes; Singapore shares defy broader gloom

    * Graphic: World FX charges tmsnrt.rs/2egbfVh
    * Graphic: International flows into Asian shares tmsnrt.rs/3lKhL5I
    * Singapore shares set for third consecutive weekly achieve
    * S. Korean shares down for a fourth straight session 
    * Indonesia passes Philippines with most COVID-19 circumstances in
SE Asia

    By Shriya Ramakrishnan
    Oct 16 (Reuters) - Singapore shares rose on Friday as
exports from the city-state grew for the fourth straight month,
whereas warning prevailed throughout the remainder of the area in per week
dominated by considerations over stalled COVID-19 vaccine trials and
recent U.S. stimulus.
    Shares and currencies throughout the area had been hit by international
fears of surging coronavirus infections and a scarcity of progress
in the direction of a U.S. fiscal stimulus deal, pulling cash into the
greenback and different conventional protected havens for capital.
    South Korean shares had been the worst hit, falling
practically 1% whereas the gained additionally got here beneath stress.
    In Indonesia, the rupiah dipped and its shares
dropped 0.7% because the nation overtook the Philippines with the
highest coronavirus case numbers in Southeast Asia.
    "We're recommending low volatility fairness methods to our
purchasers, which ought to present draw back safety in drawdown
durations but additionally take part properly in restoration phases," Sarah
Lien, consumer portfolio supervisor at Eastspring Investments mentioned as
she pointed to imminent U.S. elections, escalating U.S.-China
tensions, and the continued pandemic as key dangers.
    "We're selective consumers, and have been including to
attention-grabbing names associated to 5G, semiconductors, client, actual
property and web that ought to be long-term winners." 
    In Thailand, the baht dipped and shares
fell, as traders continued to maintain a cautious eye on political
    Scores of Thai protesters gathered at a industrial district
in central Bangkok on Thursday in defiance of an in a single day ban
on protests aimed toward ending three months of anti-government
    The protests have focused King Maha Vajiralongkorn as properly
as Prime Minister Prayuth Chan-ocha, a former junta chief. 
    Singapore's FTSE Straits Occasions Index, which has
largely underperformed within the area to this point this yr, gained as
a lot as 0.9%, however a stronger dollar saved a lid on positive aspects for
the Singapore greenback.
    Information launched in early Asian buying and selling hours confirmed
Singapore's non-oil home exports expanded for a fourth
consecutive month, rising 5.9% from a yr earlier, pushed by a
soar in shipments from its key electronics sector.
    Sentiment additionally improved on plans for the formation of a
journey bubble between Hong Kong and Singapore.
    "The institution of a journey bubble with Hong Kong has
painted a silver lining for additional border easing, which is
crucial to Singapore's open economic system," mentioned Margaret Yang, a
strategist at DailyFX.
    ** Indonesian 10-year benchmark yields are down 1.7 foundation
factors at 6.8%
    ** Prime gainers on the Singapore STI embody
Yangzijiang Shipbuilding Holdings Ltd up 2.11% at
S$0.97, Enterprise Company Ltd up 2.1% at S$20.94,
UOL Group Ltd up ​1.63% at S$6.87
    ** Prime losers on the Jakarta inventory index embody
Financial institution Rakyat Indonesia Agroniaga Tbk PT down 6.99% at
426 rupiah, Alumindo Gentle Metallic Business Tbk PT down
6.9% at 216 rupiah
  Asia inventory indexes and                                     
 currencies at   0421 GMT                              
                       DAILY  YTD %                 S   YTD %
                           %                    DAILY  
 Japan                 +0.19  +3.20             -0.22   -0.85
 China                 +0.07  +3.62             -0.28    8.94
 India                  0.00  -2.73              0.71   -3.33
 Indonesi              -0.20  -5.51             -0.66  -19.49
 Malaysia              -0.02  -1.56             -0.20   -4.90
 Philippi              -0.07  +4.06             -0.29  -24.24
 S.Korea               -0.28  +0.87             -0.88    6.49
 Singapor              -0.09  -1.21              0.41  -21.38
 Taiwan                +0.64  +4.63              0.07    7.00
 Thailand              -0.03  -4.20             -0.28  -21.55
 (Reporting by Shriya Ramakrishnan in Bengaluru; Modifying by
Christopher Cushing)

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