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

EMERGING MARKETS-Philippine shares bounce back; India weighs loan moratorium ruling

    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Philippine shares recovers after 2 days of losses
    * S. Korea shares falls for third straight day
    * India's top court rules against extension of loan
moratoriums

    March 23 (Reuters) - Philippine shares bounced back on
Tuesday after two days of losses, while India reversed early
gains as investors jostled with a ruling by the country's top
court on the extension of loan moratorium.
    Indian shares, which had risen as much as 0.9%
during the day, were trading flat by 0625 GMT as the Supreme
Court refused to extend the loan moratorium beyond the six-month
period which ended on Aug. 31. 
    Beaten-down bank stocks initially jumped after the ruling
but pared gains as the court said borrowers cannot be charged
any form of additional interest for non-payment during the
moratorium period.
    The Philippine benchmark, which shed nearly 4% in the
past two sessions, climbed 0.8% boosted by real estate firms
, which gained 2%.
    Real estate firm Megaworld Corp led gains on the
benchmark, up 3.9%, and property developer SM Prime Holdings
 added over 2%.
    Investors were reportedly encouraged by a repeated pushback
from Philippine authorities about hard lockdowns, said ING
economist Nicholas Mapa.
    Philippine authorities prefer smaller, targeted restrictions
over a hard lockdown to support the economy, President Rodrigo
Duterte said in a live-streamed briefing on Monday evening,
according to Bloomberg here.
 
    Weighing on sentiment, Chinese markets shed over 1% as
tensions between Beijing and Western countries heated up over
sanctions related to human rights abuses in Xinjiang.
 
    South Korea's benchmark closed lower for a third consecutive
day, while Malaysia declined 0.7%. 
    The Singapore bourse was flat, with investors
shrugging off data which showed the city-state's February main
price gauge turned positive for the first time in a year,
fuelled by an increase in services costs and higher food
inflation.
    Most regional currencies weakened as the U.S. dollar
steadied ahead of a Congressional testimony by U.S. Federal
Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen
later in the day.
    The Malaysian ringgit and the Philippine peso
dropped 0.2% each, while South Korean won and
Indonesian rupiah shed 0.1%. 
    
    Highlights:
    
    ** Thailand's 10-year government bond yields are down 5
basis points at 1.72%
    ** Top losers on FTSE Bursa Malaysia Kl Index
include Genting Bhd; Genting Malaysia Bhd;
Supermax Corporation Bhd
    ** Shares in Singapore's CapitaLand surge on restructuring
plan
    
    
  Asia stock indexes and                                  
 currencies at   0646 GMT                           
 COUNTRY  FX RIC        FX     FX    INDEX  STOCKS  STOCKS
                     DAILY  YTD %            DAILY   YTD %
                         %                       %  
 Japan               +0.07  -5.07           -0.61    5.65
 China    <CNY=CFX   -0.05  +0.26            -1.15   -2.00
          S>                                        
 India               +0.10  +1.07             0.07    5.47
 Indones             -0.07  -2.57            -0.39    4.98
 ia                                                 
 Malaysi             -0.24  -2.47            -0.70   -1.34
 a                                                  
 Philipp             -0.21  -1.23             0.80   -9.71
 ines                                               
 S.Korea  <KRW=KFT   -0.12  -3.85            -1.01    4.57
          C>                                        
 Singapo             -0.10  -1.54             0.05   10.05
 re                                                 
 Taiwan              -0.02  -0.06            -0.07    9.81
 Thailan             -0.06  -3.14             0.07    8.15
 d                                                  
 
 (Reporting by Shruti Sonal in Bengaluru; Editing by Amy Caren
Daniel)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up