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EMERGING MARKETS-Indonesian stocks, rupiah extend falls as COVID-19 cases spike

    * Indonesian stocks down for 4th straight day
    * Taiwan stocks eye worst session in more than a month
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Asian stock markets: tmsnrt.rs/2zpUAr4

    By Harish Sridharan
    June 21 (Reuters) - Indonesian shares and the rupiah eased
on Monday, extending the prior week's sharp losses, as the
country struggles to contain spiking coronavirus infections,
while other regional currencies fell as the U.S. dollar hovered
near two-month peaks.
    Indonesia on Sunday reported its highest daily cases since
Jan. 30, while the country's COVID-19 task force also reported
the highest number of daily fatalities since early April.

    Jakarta stocks, which fell 1.5% last week despite
Bank Indonesia's dovish messages, shed 0.8% and were set for
their fourth straight session of losses.
    The rupiah weakened as much as 0.6% to hit its lowest
since May 3. 
    "Earlier last week, Indonesia imposed stricter capacity
limits given the spike in cases. These could get worse if the
outbreak continues to grow," said Daniel Dubrovsky, a strategist
at IG Group.
    "Combined with the shift in the Fed's tone, it is not
shaping up too well for regional sentiment. That is also being
reflected in a weaker rupiah."
    The U.S. Federal Reserve surprised markets last week by
signalling sooner-than-expected interest rate hikes, fuelling
risk aversion in emerging Asian markets.
    "This is a risk for emerging markets because it could send
capital flows moving outward instead of inward. A stronger U.S.
dollar and higher rates could make foreign debt repayments more
difficult," Dubrovsky said.
    Most regional equity markets fell, taking their cue from a
sharp fall on Wall Street on Friday, with stocks in Malaysia
, Singapore and Thailand all sliding more
than 1%.
    Philippine stocks marked their fourth straight
session of losses, even as the country's central bank insisted
last week it had enough measures to counter any macroeconomic
fallout from a shift in the Fed's policy.
    Taiwan stocks skidded as much as 1.7% and are set
for their worst session in more than a month. However, the
island is expected to report a 15th straight month of gains in
export orders for May later on Monday, a Reuters poll showed.

    
    HIGHLIGHTS:    
    ** Top loser on the Jakarta stock index was
Nusantara Pelabuhan Handal Tbk PT, down 7%
    ** Top loser on the Singapore STI was Hongkong Land
Holdings Ltd, down 2.98%

    
  Asia stock indexes and                              
 currencies at   0421 GMT                        
 COUNTRY  FX RIC        FX     FX  INDE  STOCKS  STOCK
                     DAILY  YTD %     X   DAILY  S YTD
                         %                    %      %
 Japan               +0.36  -5.97  <.N2   -3.59   1.80
                                   25>           
 China    <CNY=CFX   -0.22  +0.93  <.SS   -0.22   1.27
          S>                       EC>           
 India               +0.00  -1.08  <.NS   -0.72  11.36
                                   EI>           
 Indones             -0.21  -2.50  <.JK   -0.76  -0.29
 ia                                SE>           
 Malaysi             -0.22  -3.04  <.KL   -1.07  -3.39
 a                                 SE>           
 Philipp             -0.35  -1.36  <.PS   -0.34  -4.37
 ines                              I>            
 S.Korea  <KRW=KFT   -0.47  -4.53  <.KS   -1.11  12.47
          C>                       11>           
 Singapo             -0.01  -1.88  <.ST   -1.15   9.29
 re                                I>            
 Taiwan              -0.53  +1.87  <.TW   -1.41  15.89
                                   II>           
 Thailan             -0.38  -5.07  <.SE   -1.05  10.12
 d                                 TI>           
 

 (Editing by Jacqueline Wong)
  
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