EMERGING MARKETS-Asian stocks slip as stimulus hopes ebb, anti-govt protests weigh on Thailand

 (Wider distribution)
    * Graphic: World FX rates
    * Graphic: Foreign flows into Asian stocks
    * S. Korea shares down nearly 1%
    * Taiwan dollar outperforms Asia FX
    * Thai government announces emergency decree over protests

    By Shriya Ramakrishnan
    Oct 15 (Reuters) - Asia's emerging stock markets lost more
ground on Thursday as hopes of U.S. fiscal stimulus before the
Nov. 3 election faded, while Thai shares' woes were compounded
after an emergency decree to curb months-long protests in the
    Shares in Bangkok slipped up to 1.1% and the baht
 largely traded flat, after the government banned
protests and the publication of sensitive news in the face of
escalating protests.
    Protesters have demanded the removal of Prime Minister
Prayuth Chan-ocha, a former junta leader, a new constitution and
reduction in the powers of the king. 
    "The moves in THB on domestic developments continues to be
limited despite some very dramatic dynamics playing out. Revival
of tourism theme will take a while to play out as the second
wave of infection is intensifying in many parts of the world,"
said Mahesh Sethuraman, deputy head of global sales trading at
Saxo Capital Markets. 
    "Thailand's fortunes will depend a lot on slowing pace of
infection, increasing odds of vaccine, and also weaker THB which
can only come about once the U.S. election is out of the way."
    Shares in Singapore dropped 0.8%, while South Korean
shares were down nearly 1% as a jump in daily domestic
coronavirus cases weighed on risk appetite. 
    The won however firmed 0.3%. 
    Global risk sentiment has taken a hit after two separate
high-profile coronavirus vaccine trials were halted, while
resurgent COVID-19 infections and the looming U.S. presidential
elections have also steered investors away from riskier assets.
    Analysts at DBS Bank said they favour positioning of China,
Singapore, Thailand and South Korean bonds over the rest of
October and beyond Nov. 3 as they are more resilient and hedge
well during periods of broad market volatility. 
    Most Asian currencies were flat to lower during the day, as
the greenback held on to gains, while the Taiwan dollar
once again outperformed with gains of 0.7% against the U.S.
    Taiwan's central bank on Thursday said it will maintain the
stability of the Taiwan dollar exchange rate, intervening in the
currency market if there are large capital inflows or
    The bank added that a stronger currency, which has made the
island's exports more expensive, was not a problem for the
high-tech sector, but more troubling for traditional
    In the Philippines, the peso inched down after data
pointed to a 4% decrease in August for overseas remittances, a
key source of foreign income for the country. 
    ** Thailand's 10-year government bond yields are down 0.5
basis points at 1.365%
    ** Top losers on the Singapore STI include: Wilmar
International Ltd down 5.36% at S$4.41; Capitaland Ltd
 down 1.78% at S$2.76; City Developments Ltd
down 1.65% at S$7.74
    ** In the Philippines, top index gainers are First Gen Corp
 up 2.26% at 24.9 peso, Metropolitan Bank and Trust Co
 up 2.08% at 41.75 peso, International Container
Terminal Services Inc up ​ 1.97% at 119.2 peso
  Asia stock indexes and                                       
 currencies at   0439 GMT                                
                         DAILY  YTD %                 S   YTD %
                             %                    DAILY  
 Japan                   -0.10  +3.18             -0.65   -0.77
 China                   -0.14  +3.57              0.10    9.64
 India                   +0.03  -2.59              0.08   -1.54
 Indonesia               +0.07  -5.39             -0.59  -18.32
 Malaysia                +0.05  -1.37             -0.27   -4.38
 Philippine              -0.06  +4.16              0.16  -24.06
 S.Korea                 +0.31  +1.15             -0.92    7.32
 Singapore               -0.01  -0.94             -0.80  -21.34
 Taiwan                  +0.72  +4.73             -0.63    7.01
 Thailand                +0.06  -3.98             -0.63  -20.50

 (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by
Michael Perry)