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EMERGING MARKETS-Philippine peso dips most since February as virus curbs extended

    * Peso hits lowest since May 28
    * Singapore stocks at near 3-week high
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Asian stock markets: tmsnrt.rs/2zpUAr4

    By Shashwat Awasthi
    June 15 (Reuters) - The Philippine peso fell the most in
almost four months on Tuesday after partial coronavirus curbs
were prolonged and quarantine measures tightened in some parts
of the country until end-June to control infections.
    Most other emerging Asian currencies traded flat to slightly
lower as the U.S. dollar held steady and Treasury yields
recovered from three-month lows ahead of a much anticipated
Federal Reserve meeting.
    Among regional stocks, Singapore's benchmark index
climbed 0.8%. The Monetary Authority of Singapore on Monday
released a survey which forecast the country's 2021 gross
domestic product to expand more than expected.
    In the Philippines, the peso fell 0.4% to a more than
two-week low and was set for its worst day since Feb. 25 after
President Rodrigo Duterte extended restrictions on Monday.

    "Despite seeing the vaccination in full swing, cases have
plateaued at a relatively high daily count of 6,000,
complicating the full reopening of the economy," said Nicholas
Mapa, a senior economist at Dutch bank ING.
    "Mobility curbs, partial and full, imposed for the entirety
of Q2 point to a lower than predicted GDP report," he said,
adding that some traders were also defensive ahead of the U.S.
Federal Reserve's meeting.
    The U.S. central bank could shed more light on its next
policy steps, including when it will begin tapering its bond
buying programme and tighten ultra-easy monetary settings.
    Stocks in Manila recouped earlier losses and added as
much as 0.9%, however, partly helped by consumer stocks which
Mapa said benefited from increased dining capacity allowed in
some parts of the Philippines.
    The Indonesian rupiah lost 0.3% as it continued to
hand back some recent gains before a Bank Indonesia (BI) meeting
on Thursday.
    There was little effect on markets from a jump in
Indonesia's May exports and imports, or from a BI statement that
it was watching for possible policy tightening in the U.S.
through to 2022.
    Separately, data showed foreigners were net buyers of Asian
bonds in May, helped by a drop in U.S. bond yields and a
recovery in the region's economic activity, though the risk of
spiking infections kept buying at a four-month low.
    
    HIGHLIGHTS:
    ** Indonesian 10-year benchmark yields are up
6.4 basis points at 6.423%
    ** Top gainers on the Singapore STI include Singapore
Exchange up 1.8%, Thai Beverage up 1.5% and
Mapletree Commercial Trust up 1.4%
    
    
   Asia stock indexes and currencies at 0551 GMT                                  
   COUNTRY      FX RIC    FX DAILY %   FX YTD %     INDEX   STOCKS DAILY %  STOCKS YTD %
    Japan                   +0.00        -6.20                   1.05           7.38
    China                   -0.09        +1.95                  -0.75           2.58
    India                   +0.04        -0.24                   0.49          13.64
  Indonesia                 -0.32        -1.44                  -0.11           1.58
  Malaysia                  -0.01        -2.27                  -0.02          -2.77
 Philippines                -0.47        +0.08                   0.86          -2.28
   S.Korea                  -0.10        -2.83                   0.13          13.32
  Singapore                 +0.00        -0.40                   0.53          11.46
   Taiwan                   -0.05        +3.03                   0.88          17.87
  Thailand                  +0.03        -3.70                  -0.18          12.47
 
 (Reporting by Shashwat Awasthi in Bengaluru; Editing by Simon
Cameron-Moore and Uttaresh.V)
  
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