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EMERGING MARKETS-Currencies gain as dollar dips, cash flows firm

    * Graphic: World FX rates tmsnrt.rs/2egbfVh
    * Graphic: Foreign flows into Asian stocks tmsnrt.rs/3f2vwbA
    * Most Asian currencies firm against a weaker USD
    * Rupiah hits near one-month low
    * Philippine shares gain over 1%

    By Shriya Ramakrishnan
    Aug 18 (Reuters) - Most of Asia's emerging currency and
stock markets rose on Tuesday as the U.S. dollar eased and
upbeat data gave investors hopes of a bounce in economic output
and cash inflows.
    Shares in Indonesia hit a more than five-month high,
boosted by gains in the financial and consumer sectors, after
current account data topped expectations and a state budget
pointed to higher spending for public works.
    In the Philippines, shares gained more than 1%
following an easing of strict restrictions in and around capital
Manila, while data showed 7.7% growth in June overseas
remittances, a key source of foreign income.
    "The June report shows how resilient remittance flows can be
even during crisis periods....but we will wait to see if
remittance growth can be sustained given that up to 100,000
Filipino workers are set to return home after losing their jobs
overseas," analysts at ING said in a note.
    Currencies inched higher, led by an almost half percent gain
for the Taiwan dollar.
    The rupiah bucked the trend with an almost 1% fall in
early trade before recovering some ground after the data showed
Indonesia's current account deficit narrowing slightly.

    While the proposed budget for 2021 represents only a 0.3%
increase compared with this year's spending plans, Anthony
Kevin, an economist at Mirae Asset Sekuritas Indonesia pointed
to higher allocations for ministries and institutions as
positives.
    "Despite the relatively promising state budget proposal for
2021, we are of an opinion that budget realization is the most
crucial factor in determining the fate of Indonesia's economic
recovery, which we believe would be very gradual," Kevin added.
    In South Korea, the won dipped and shares
fell 0.2%, as trade resumed after Monday's holiday, with a spike
in domestic coronavirus infections denting sentiment.
    South Korea warned on Monday of the danger of exponential
growth in cases as outbreaks flared. While the country has been
one of the world's success stories in the pandemic, it has
nevertheless battled persistent spikes in infections.

    
    HIGHLIGHTS:
    ** Indonesian 10-year benchmark yields are up 0.8 basis
points at 6.775%
    ** Top gainers on the Jakarta stock index include
Akbar Indo Makmur Stimec Tbk PT up 30.23% at 224
rupiah, Global Mediacom Tbk PT up 22.41% at 282
rupiah, Dafam Property Indonesia Tbk PT up 14.45% at
396 rupiah
    ** In the Philippines, top index gainers are Robinsons
Retail Holdings Inc up 3.23% at 64 peso, Semirara
Mining and Power Corporation up 3.04% at 9.5 peso,
Puregold Price Club Inc up ​ 2.72% at 51 peso
    
  Asia stock indexes and                                     
 currencies at   0417 GMT                               
 COUNTRY   FX RIC          FX  FX YTD    INDEX  STOCKS  STOCK
                      DAILY %       %            DAILY  S YTD
                                                     %      %
 Japan                  +0.33   +2.81            -0.26  -2.62
 China     <CNY=CFXS    +0.02   +0.47             0.42  13.22
           >                                            
 India                   0.00   -4.68             0.59  -7.02
 Indonesi               -0.54   -6.22             1.05  -15.8
 a                                                          2
 Malaysia               +0.08   -2.32             0.49  -1.28
 Philippi               +0.02   +4.20             1.17  -21.4
 nes                                                        4
 S.Korea   <KRW=KFTC    -0.01   -2.39            -0.19   9.33
           >                                            
 Singapor               +0.03   -1.67             0.15  -20.0
 e                                                          9
 Taiwan                 +0.43   +2.40            -0.37   7.60
 Thailand               +0.06   -4.04             0.39  -16.0
                                                            6
 
 (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Sam
Holmes and Patrick Graham)
  
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