Graphic: World FX rates tmsnrt.rs/ 2egbfVh.
Graphic: Foreign streams into Asian stocks tmsnrt.rs/ 3f2vwbA.
Uncertain financial policy clouds outlook for rupiah.
Philippine stocks down nearly 2%.
Other Asian risk properties enhanced by hopes of worldwide.
stimulus.
By Shriya Ramakrishnan.
July 17 (Reuters) – Indonesia’s rupiah fell to a near.
two-month low on Friday, a day after the central bank cut.
rate of interest for a 4th time this year, routing other Asian.
currencies that were supported by hopes of more stimulus to.
fortify the battered global economy.
With Indonesia also recording among the highest COVID-19
death rates in east Asia outside China, stocks in the.
nation edged lower and the rupiah weakened 0.7%to.
14,660 a dollar, on course for weekly declines of about 2%.
Bank Indonesia cut its benchmark rate of interest on Thursday.
to 4.00%, as expected, however stated further decreases would depend.
on indicators such as inflation in Southeast Asia’s biggest.
economy. It also did not point out if it had actually altered its full-year.
outlook for gross domestic product.
” While the burden sharing scheme might benefit Indonesia’s.
economy, there is worry that the main government wouldn’t be.
able to realise its planned costs,” said Anthony Kevin, an.
financial expert at Mirae Property Sekuritas Indonesia.
” This is why market participants were also looking for clues.
regarding the possibility of another rate cut.”.
In Thailand, the baht hovered near six-week lows,.
with financiers growing concerned about the government’s fiscal.
response to the coronavirus crisis following the resignation of.
financing chief Uttama Savanayana and 2 other ministers.
” A few of the USD/THB selling in the last hour may be some.
profit taking and potentially owing to the reality that this surge.
in volatility might see increased examination from the central.
bank,” said Jingyi Pan, market strategist at IG Asia.
Using some relief, Thailand’s central bank stated on.
Thursday it anticipated headline inflation to recover to 1%-3%in.
the second quarter of 2021 after an anticipated minus 1.7%this.
year.
Stocks throughout Asia’s establishing and emerging markets clocked.
modest gains, helped by a bounce back in U.S. stock futures as.
hopes of more government spending helped counter worries about.
the rise in worldwide coronavirus cases.
Philippine stocks, however underperformed, grasped by.
worries of further economic pain from the pandemic as the nation.
reported its most significant daily spike in validated infections in more.
than a week.
The benchmark stock index was down almost 2%and was set for.
its second straight weekly decrease.
HIGHLIGHTS:.
Indonesian 10- year criteria yields are up 1.4 basis.
points at 7.057%.
Leading gainers on FTSE Bursa Malaysia Kl Index.
consist of Top Glove Corporation Bhd up 12.89%at 22.24
ringgit, Hartalega Holdings Bhd up 4.49%at 16.3.
ringgit, Hap Seng Consolidated Bhd up 2.78%at 8.87
ringgit.
In the Philippines, top index decliners are SM Prime.
28%at 31.3 peso; Ayala Land Inc.
down 3.5%at 31.8 peso; Robinsons Land Corp.
down 2.43%at16
Asia stock indexes and.
currencies at 0419 GMT.
COUNTRY FX RIC FX YTD INDEX STOCKS STOCKS.
DAILY %LY YTD %.
%.
Japan 0.06 1.32 -0.33 -4.06
China.
India 0.06 0.
Indonesi -0.32 -0.
17 0.92 -0.
Philippi 0.16 2.45 -1.83 -2277
nes.
S.Korea.
Singapor 0.07 -3.36 0.13 -1848
e.
Taiwan 0.36 2.09 0.58 1.93
Thailand -0.53 0.
( Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Kim.
Coghill).
reuters.
