* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA * Philippine shares extend last week's sharp losses * S. Korea, China shares outperform By Shriya Ramakrishnan July 13 (Reuters) - Philippine shares weakened on Monday as the country reported a record daily spike in coronavirus deaths, while other Asian stock markets rose on hopeful crucial economic data from China later this week. Shares in Manila were down 0.4% as the Philippines health ministry warned of a risk of further fatalities and infections, with nearly 12,000 suspected positive cases yet to be verified. "The market sees a downward bias as it awaits the government's decision on the community quarantine measures in the capital for the second half of July," said Jennifer Lomboy, a fixed income fund manager at First Metro Asset Management. However, the mood across the rest of Asia was broadly positive, with Chinese and South Korean shares gaining above 1.5% each, as investors were optimistic about economic data releases from Beijing this week. China, the region's largest trading partner, is set to release its second-quarter growth readings, trade, industrial output and retail sales figures for June later in the week. A Reuters poll found that the slump in China's exports is likely to have eased in June as some countries reopened their economies, while imports contracted less sharply on higher crude oil and commodities purchases. Stock markets around the region have also found support from ample liquidity unleashed by central banks, along with a shift in capital towards defensive plays such as technology and consumer stocks. In currency markets, the won outperformed with a 0.3% gain, while the Indonesian rupiah was hemmed in a tight range as markets weighed in the possibility of a fourth rate cut by Bank Indonesia (BI) later this week. "Despite the nearly 10% appreciation in the IDR vs the USD in Q2 yet far, authorities remain concerned over the flows outlook, as a third of outstanding IDR debt is held by foreign investors," DBS Bank analysts said. "Nonetheless, the need to support growth remains a priority, which is likely to keep BI on the easing path." Indonesian debt offers the highest yield in Southeast Asia, with the 10-year yield at 7.087%, compared with the Philippines government debt and Malaysia , which are under 3%. HIGHLIGHTS: ** In the Philippines, top index losers are First Gen Corp down 5.01% at 23.7 peso; BDO Unibank Inc down 3.38% at 91.5 peso; and Robinsons Land Corp down 2.64% at 15.5 peso ** Top gainers on the Thailand's SETI include Multi-National Residence Fund up 12.33% at 3.28 baht and Delta Electronics Thailand PCL up 11.87% at 77.75 baht ** Indonesian 10-year benchmark yields are down 2.4 basis points at 7.087% Asia stock indexes and currencies at 0731 GMT COUNTRY FX FX FX YTD INDEX STOCKS STOCKS RIC DAILY % % DAILY % YTD % JapanChina India Indonesi Malaysia Philippi S.Korea Singapor Taiwan Thailand (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Bernard Orr)
Stocks mentioned in the article
Price
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Change
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5d. change
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Capi.
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699.9 USD | +1.54% | -4.38% | - | ||
450.2 PTS | -3.15% | -3.04% | - | ||
300.5 TWD | +2.56% | -10.03% | 23.39B | ||
150 PHP | +2.46% | -1.19% | 13.53B | ||
71.5 THB | -6.23% | -7.44% | 25.93B | ||
19.1 PHP | -1.04% | -2.15% | 1.22B | ||
15.48 PHP | +1.98% | -4.09% | 1.29B | ||