EMERGING MARKETS-Asian stocks jump over 1%, currencies gain ahead of U.S. election

    * Singapore, Taiwan, Thailand and China stocks climb over 1%
    * Malaysia's central bank leaves key policy rate unchanged
    * Markets eye poll lead for Biden in U.S. election - analyst

    Nov 3 (Reuters) - Shares in Singapore and South Korea climbed around 2% on
Tuesday, as improving global factory data and hopes of a win for Democratic
contender Joe Biden in the U.S. presidential election boosted sentiment in China
and other regional Asian markets.
    Stocks in Taiwan, Thailand, India and China
all gained over 1%, driving the MSCI index of Asian shares ex-Japan
 up 1.2%.
    U.S. manufacturing activity accelerated more than expected in October,
following similar robust improvements in South Korea and China on Monday,
underpinning gains on Wall Street overnight.
    A win for Biden, who leads in the polls, is expected to espouse a less
combative stance on China and steadier foreign and trade policy overall, all
seen as supportive for Asia's trade-reliant economies.
    "Markets have turned more positive as polls on the eve of U.S. elections are
still indicating a strong Biden lead over Trump, reducing risks of an upset,
unlike in 2016," said Wei Liang Chang, a macro strategist at DBS Bank. 
    Asia's emerging currencies also advanced against the U.S. dollar with
Taiwan's dollar standing out with a 1% rise, and the rupiah
marginally higher at a two-month high. 
    "Whether the Democrats or Republicans control the Senate will also be
watched by markets. A Blue (Democrat) sweep is likely to underpin expectations
of a large fiscal stimulus that should buoy equities and pressure the dollar,"
Chang added.
    Indications of the election outcome should start to trickle in during Asian
trading hours on Wednesday.
    Elsewhere, Malaysia's central bank left its key interest rate unchanged, as
expected, at a record low of 1.75%, having already slashed rates by 125 basis
points this year.
    Malaysian stocks and the ringgit moved little after the
decision, with shares down 0.1% and the currency up an equal amount on
the dollar. 
    Bank Negara Malaysia pointed to significant improvement in economic activity
in the third quarter, with the outlook for 2021 more upbeat thanks to a recovery
in global demand.
    Philippine stocks kicked off their week marginally higher as trading
resumed after a public holiday on Monday. 

    ** Malaysia's 10-year benchmark yield up 0.8 basis points to 2.649%
    ** Indonesian 3-year benchmark yields are down 1.5 basis points at 5.289%
    ** Reuters Poll: FX markets to remain net short U.S. dollar after election
            Asia stock indexes and currencies at 0727 GMT
 COUNTRY      FX RIC      FX       FX     INDEX    STOCKS   STOCKS
                          DAILY %  YTD %           DAILY %  YTD %
 Japan                    +0.13    +3.86           -        -1.53
 China                    -0.06    +4.00           1.42     7.24
 India                    +0.14    -3.95           1.27     -2.88
 Indonesia                +0.31    -4.80           0.81     -18.15
 Malaysia                 +0.05    -1.54           -0.07    -7.77
 Philippines              +0.01    +4.68           0.18     -18.93
 S.Korea                  -0.04    +1.97           1.88     6.63
 Singapore                +0.09    -1.39           1.84     -22.80
 Taiwan                   +1.07    +5.25           1.15     6.16
 Thailand                 +0.19    -3.70           1.33     -22.89
 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Rashmi Aich)