EMERGING MARKETS-Indonesia, S. Korea stocks drop over 1% as virus threatens recovery

    * Graphic: World FX rates
    * Graphic: Foreign flows into Asian stocks
    * Indonesia stocks hit near 2-week low
    * Bank stocks drag Singapore's index

    By Anushka Trivedi
    Sept 22 (Reuters) - Stock markets in Indonesia, Philippines
and South Korea declined more than 1% on Tuesday as rises in
coronavirus cases locally and globally dampened hopes of a swift
economic recovery.
    South Korean stocks, dropped 1.7% to lead falls
across Asia's emerging markets, while Jakarta's main index
 slid as much as 1.6% to its lowest level in almost two
    The number of infections in the Philippines rose another
3,500 to top 290,000 on Monday, while Indonesia reported a
record jump in cases despite moves to lock down parts of its
    Sentiment on stock markets globally worsened on Monday as
the imposition of curbs in a number of European countries, along
with a possible delay in fresh U.S. fiscal stimulus, weakened
the prospects for recovery, said Margaret Yang, a strategist at
retail trading platform IG.
    Banking stocks weighed on Singapore's FTSE Straits Times
Index (STI) after DBS Group Holdings was among
the banks named in reports on Sunday that a number of major
global lenders had moved more than $2 trillion in suspect funds
over the past two decades.
    The city-state's top three lenders shed between 0.6% to 1.4%
    Demand for safe-haven assets boosted the U.S. dollar,
causing most Asian currencies to falter, with the Thai baht
, Indonesian rupiah and the Malaysian ringgit
dropping by 0.3% to 0.4%.    
    The Bank of Thailand (BoT) is expected to keep interest
rates at a record low 0.5% on Wednesday.
    Goldman Sachs analysts, writing in a note over the weekend,
said they were looking to the BoT's meeting for any insight into
the central bank's stance on unconventional monetary policy
tools such as quantitative easing, corporate bond purchases and
FX policy.    
    The Taiwan dollar was among outliers as it rallied
    The island's monthly export orders, a bellwether of global
technology demand, grew at the fastest pace in more than
two-and-a-half years as the global shift to homeworking during
the pandemic strengthened tech businesses.
    ** Indonesian 10-year benchmark yields are up
about 2.90 basis points at 6.906%
    ** In the Philippines, top index losers are
Bloomberry Resorts Corp down 2.37% and Metro Pacific
Investments Corp down 2.02%
    ** Top losers on the Jakarta stock index include
Global Teleshop Tbk PT down 6.72% and Yanaprima
Hastapersada Tbk PT down 6.63%
  Asia stock indexes and                                         
 currencies at 0347 GMT                                    
                              %       %           DAILY %   YTD %
 Japan                    +0.09   +3.88            0.00     0.29
 China                    +0.29   +2.63             -0.12    8.61
 India                    +0.00   -2.72              0.00   -7.54
 Indonesi                 -0.27   -5.77             -0.82  -21.29
 Malaysia                 -0.34   -1.09              0.51   -5.14
 Philippi                 -0.04   +4.54             -1.07  -25.19
 S.Korea                  -0.45   -0.58             -1.66    6.92
 Singapor                 +0.01   -1.28             -0.63  -23.36
 Taiwan                   +0.61   +3.89             -0.73    5.87
 Thailand                 -0.29   -4.47             -0.05  -19.33
 (Editing by Ana Nicolaci da Costa)