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EMERGING MARKETS-Singapore shares jump on upbeat c.bank forecast, virus woes batter rupiah

    * Thai stocks rise to one-week high
    * Philippine stocks on track for second straight monthly
gain
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Asian stock markets: tmsnrt.rs/2zpUAr4

    By Soumyajit Saha
    June 30 (Reuters) - Singapore stocks were set for their
biggest jump in more than a month on Wednesday, after the
country's central bank said annual economic growth could surpass
forecasts, while rupiah weakened on a surge in fresh COVID-19
cases in Indonesia.
    The Monetary Authority of Singapore chief Ravi Menon said
the city-state's economic growth could exceed the upper end of
the official 4% to 6% forecast range this year, buoyed by a
rebound in global demand and progress in the domestic
vaccination program.
    Government data here
 showed a fall in new coronavirus cases over the last few days,
while local media reported here
 a ramp up in the vaccination drive.
    The FTSE Strait Times index rose as much as 1.7% in
its best session since May 18, though it was on track to decline
0.8% for the June quarter.
    Indonesia's rupiah, on the other hand, weakened to
its lowest level since April 23, as the country faced record
daily COVID-19 infections of more than 20,000 in recent days.

    "The increase in hospitalizations are weighing on
sentiment... rumours of the country contemplating further
restrictions to combat the Delta variant have led to investors
reducing their exposure to the rupiah," said Chang Wei Liang, a
macro strategist with DBS bank.
    "We expect the downside to the rupiah to persist till cases
peak."
    Emergency social restrictions are being finalised amid a
spike in coronavirus cases in Indonesia, its President Joko
Widodo said.
    Philippine stocks also fell, a day after the country
extended restrictions on movement and businesses in the capital
and nearby provinces until mid-July.
    But the benchmark index gained over 4% for the month, to
notch up its second straight monthly gain.
    Thai equities rose to their highest in a week as
they built on Tuesday's gains, with the bourse set to gain 0.5%
for the June quarter.
    Most emerging Asian currencies were muted, with the Korean
won strengthening 0.3%.
    Regional markets mostly shrugged off a dip in China's June
factory activity that fell to a four-month low, hurt by higher
raw material prices and virus-led disruptions.

    
HIGHLIGHTS
** Indonesian 10-year benchmark yields are up 1.8 basis points
at 6.628%   
** Malaysia's 10-year benchmark yield is down 2.3 basis points
at 3.292%                           
  Asia stock indexes and                                        
 currencies at   0556 GMT                                 
 COUNTRY      FX RIC          FX     FX    INDEX  STOCKS  STOCKS
                           DAILY  YTD %            DAILY   YTD %
                               %                       %  
 Japan                     +0.04  -6.54             0.12    5.11
 China                     +0.10  +1.10             0.39    3.28
 India                     -0.20  -1.75             0.54   13.24
 Indonesia                 -0.34  -3.37             0.81    0.30
 Malaysia                  +0.00  -3.13            -0.36   -5.20
 Philippines               -0.10  -1.46            -0.79   -3.33
 S.Korea                   +0.12  -3.64             0.46   14.91
 Singapore                 +0.04  -1.76             1.51   10.28
 Taiwan                    +0.06  +2.12             0.89   20.52
 Thailand                  +0.09  -6.40             0.26   10.08
 
    
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Rashmi
Aich)
  
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