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(Repeats to additional codes. No change to text.) * Philippine president signs $93.7 bln national budget for 2021 * S.Korea stocks set to snap three-day winning streak * Thai baht adds nearly 0.5% By Pranav A K Dec 29 (Reuters) - Malaysian shares declined on Tuesday as glove makers shed some of this year's rally, while the Philippines' record budget powered that country's benchmark to its gain in about two weeks. The Kuala Lumpur index fell as much as 0.6%, with heavyweights Top Glove Corp and Hartalega Holdings down for a third session to lead losses on the benchmark. The glove makers, which enjoyed a surge in demand during the coronavirus crisis, have lost some support as vaccines were approved and have come under further pressure over their treatment of migrant workers. "It has coincided with the start of the European vaccination roll-out ... investors are looking ahead to the future with COVID-19, and reassessing the outlook for glove makers," said Jeffrey Halley, senior market analyst at OANDA. Philippine shares rose 0.6% in their last trading day of the year, getting a boost from President Rodrigo Duterte approving a record budget in a bid to support the pandemic-ravaged economy. That was the biggest intraday gain since Dec. 16. The 4.5 trillion peso ($93.73 billion) budget came as what was formerly one of Asia's fastest expanding economies struggles to get back to growth and contain infections. On Monday, partial curbs in Manila were extended until the end of January as the country with the second-highest number of COVID-19 cases and casualties in Southeast Asia looks to guard itself against the spread of a new coronavirus variant. Stock markets in Indonesia and Thailand also slipped in thin trading, while Seoul's KOSPI was on course to snap a three-day winning streak as heavyweights including Samsung Electronics traded ex-dividend. Currencies across Asia's emerging markets were flat to stronger as the dollar languished amid optimism around a COVID-19 relief package in the United States. The Taiwanese dollar led the pack, holding near its highest level since 1997 while the Thai baht added nearly 0.5%. HIGHLIGHTS: ** Indonesian 10-year benchmark yields are down 17.1 basis points at 5.926% ** Top losers on FTSE Bursa Malaysia Kl Index: Hartalega Holdings Bhd down 3.7% and Top Glove Corporation Bhd down 2.7% ** In the Philippines, top index gainers are Megaworld Corp up 3.03%, BDO Unibank Inc up 2.11% AND Ayala Corp up 1.97% Asia stock indexes and currencies at 0501 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD % Japan +0.12 +4.78 2.09 15.89 China +0.10 +6.60 -0.33 11.02 India +0.17 -2.73 0.58 14.67 Indonesia +0.00 -1.84 -0.29 -3.55 Malaysia -0.04 +0.99 -0.37 3.08 Philippines +0.04 +5.50 0.62 -8.30 S.Korea +0.42 +5.89 -0.23 27.50 Singapore +0.08 +1.17 0.23 -11.67 Taiwan +1.51 +7.13 -0.21 20.47 Thailand +0.40 -0.43 -0.55 -8.56 ($1 = 48.0100 Philippine pesos) (Reporting by A K Pranav in Bengaluru; Editing by Sam Holmes)[ad_2]
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