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EMERGING MARKETS-Philippine shares end with best weekly gain since June

    * Graphic: World FX rates tmsnrt.rs/2egbfVh
    * Graphic: Foreign flows into Asian stocks tmsnrt.rs/3lKhL5I
    * Foreign inflows into PSI appear to be returning - analysts
    * Taiwan dollar gains nearly 1%, 3Q GDP due next week
    * Thai markets shut for local holiday

    By Rashmi Ashok
    Oct 23 (Reuters) - Philippine stocks added 2% on Friday to
end the week with their biggest gain since June, as the easing
of restrictions in capital Manila and slowing coronavirus cases
rekindled optimism and brought back foreign investors.
    Broader Asian stocks recorded slim gains, after
better-than-expected U.S. jobs data and signs of progress in
talks for a $2 trillion stimulus deal in Washington supported
U.S. equities overnight.
    The benchmark Philippine stock index notched a near
10% gain for the week, as shares of food and real-estate
companies rallied on hopes for increased footfall in malls and
hotels after curfew hours were trimmed earlier this week.
    "The economy continues to gear up for recovery as public
transportation come back to 50% of pre-COVID-19 levels. If
developments are sustained, PSEi is poised to match its pattern
of seasonal strength in the last quarter," said Jennifer Lomboy,
fund manager at First Metro Asset Management.
    Lomboy also said foreign inflows were finally back, with the
timely passage of the 2021 budget and early encouraging
third-quarter results from some blue-chips also helping.
    Data from Refinitiv showed foreigners pumped in about 557.44
million pesos ($11.5 million) into Philippine equities across
the last two sessions, but remain net sellers of local equities
so far in October.
    Yields on the Philippine ten-year benchmark bond
, usually seen as a safer investment than stocks,
have also climbed recently, signalling the return of optimism.
The peso was also trading higher.
    Taiwan's dollar saw most of the action for the day,
adding nearly 1% to continue its bullish run, after data on
Tuesday showed export orders rose for the seventh consecutive
month in September. 
    The upcoming shopping season in the United States and Europe
and the work-from-home trend that has helped demand for the
country's tech products should keep export demand steady,
Taiwan's finance ministry recently forecast.
    Data showed Singapore's main price gauge contracted for the
eighth consecutive month in September, but was marginally higher
than expected. Both, the share index and the Singapore
dollar traded slightly firmer.
    Thai markets were closed on Friday on account of a local
holiday.
    In the week ahead, focus will turn towards third-quarter
gross domestic product data from Hong Kong, South Korea and
Taiwan, where investors will look for signs of some economic
recovery from the easing of lockdown curbs that had battered
second-quarter performance.
    
    HIGHLIGHTS
    ** In the Philippines, top index gainers were LT Group Inc
 up 9.2% and Alliance Global Group Inc up 8.72%
    ** Top gainers on the Jakarta stock index included
Garuda Metalindo up 24.75% and Pollux Properti
Indonesia up 24.71% 
    ** Singapore's 10-year benchmark yield was down 0.1 basis
points at 0.859%​​ while 5-year benchmark yields were trading up
0.3 basis points at 0.467%​​ 

    
  Asia stock indexes and                            
 currencies at   0658 GMT                      
 COUNTRY  FX RIC       FX     FX  INDE  STOCK  STOCK
                    DAILY  YTD %     X      S  S YTD
                        %               DAILY      %
                                            %  
 Japan              +0.08  +3.69  <.N2   0.18  -0.59
                                  25>          
 China    <CNY=CFX  +0.02  +4.18  <.SS  -0.92   7.60
          S>                      EC>          
 India              -0.03  -2.95  <.NS   0.25  -1.99
                                  EI>          
 Indones            -0.07  -5.26  <.JK   0.37  -18.8
 ia                               SE>              7
 Malaysi            -0.25  -1.52  <.KL   0.08  -5.59
 a                                SE>          
 Philipp            +0.19  +4.50  <.PS   2.20  -17.0
 ines                             I>               3
 S.Korea  <KRW=KFT  +0.00  +2.07  <.KS   0.24   7.42
          C>                      11>          
 Singapo            -0.04  -0.95  <.ST   0.06  -21.5
 re                               I>               0
 Taiwan             +0.89  +5.09  <.TW  -0.14   7.52
                                  II>          
 



 (Reporting by Rashmi Ashok in Bengaluru; additional reporting
by Gaurav Dogra; Editing by Sriraj Kalluvila)
  
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