for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

EMERGING MARKETS-Thai baht, Indonesian rupiah stuck at lows as virus bites

    * Thailand reports third straight day of record virus deaths
    * Philippine peso strengthens from about 11-month lows
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Asian stock markets: tmsnrt.rs/2zpUAr4

    By Soumyajit Saha
    July 2 (Reuters) - Thailand's baht hit a fresh 13-month low
on Friday, while Indonesia's rupiah was rooted to a more than
two-month low, weighed down by a surge in local coronavirus
cases and a strengthening U.S. dollar.
    The dollar rose to an over 15-month high against the yen as
market participants bet that an expected robust U.S. jobs report
later in the day would push the greenback even higher.
    The baht weakened as much as 0.3% as Thailand
reported a third straight day of record coronavirus deaths
despite new curbs in parts of the country.

    The currency is among the region's worst-performers so far
in 2021 and has hovered at its lowest in over a year since the
end of June.
    
        
    
    "Tighter restrictions in Thailand continue proving to be a
headwind, and we're now seeing foreign investors selling out of
Thai assets," said Khoon Goh, head of Asia research at ANZ
Banking Group (Singapore).
    A private industry group said this week that the
tourism-reliant economy lost 550,000 jobs in the sector over the
second quarter.
    Indonesia's rupiah fell as much as 0.5% to its
weakest since April 16, a day after the country announced
emergency measures to combat the virus, prompting business
groups such as the Indonesian Chamber of Commerce and Industry,
or Kadin, to request financial support to prevent layoffs and
bankruptcies.
    But the virus's impact was already evident as the country's
inflation rate eased to a 10-month low of 1.3% in June, staying
below the central bank's target range of 2% to 4%.
    "With record COVID-19 cases and restrictions coming into
force... economic activity is set to be hit which is a further
headwind for IDR. This could see foreign investor outflows in
the near-term," ANZ's Goh said.
    Other emerging Asian currencies mostly weakened, though the
Philippine peso came off a near 11-month low hit in the
previous session. Stocks in emerging Asia were modestly higher.
    A Reuters poll on Thursday showed investors cut long bets
across all Asian currencies as the U.S. dollar strengthened on
the U.S. Federal Reserve's recent hawkish shift and as the
region faced the spread of the more infectious Delta variant of
the coronavirus.
    
    HIGHLIGHTS
    ** Indonesian 10-year benchmark yields are up 2.2 basis
points at 6.636%​​ 
    ** Malaysia's 10-year benchmark yield is down 1.7 basis
points at 3.267%
    
  Asia stock indexes and                                       
 currencies at 0302 GMT                                  
 COUNTRY      FX RIC         FX     FX    INDEX  STOCKS  STOCKS
                          DAILY  YTD %            DAILY   YTD %
                              %                       %  
 Japan                    -0.05  -7.46             0.29    4.91
 China                    -0.08  +0.82            -1.47    1.81
 India                    +0.00  -2.01             0.00   12.15
 Indonesia                -0.34  -3.51             0.45    0.90
 Malaysia                 -0.13  -3.41             0.05   -5.66
 Philippines              +0.49  -2.28             0.09   -2.37
 S.Korea                  -0.14  -4.27             0.09   14.33
 Singapore                -0.06  -2.11             0.34   10.23
 Taiwan                   -0.25  +1.82             0.28   20.58
 Thailand                 -0.31  -6.81             0.05   10.01
    

    
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Ana
Nicolaci da Costa)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up