for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

EMERGING MARKETS-Singapore, Indonesia stocks lead modest Asian gains on vaccine news

    * Singapore, Indonesia up around 1% 
    * Rupiah rises ahead of central bank meeting on Thursday 
    * Top Glove slides 10%, weighing on Malaysian shares 

    Nov 17 (Reuters) - Singapore and Indonesia climbed around 1%
on Tuesday, leading more muted gains across Asian stock markets
on promising news of another COVID-19 vaccine as the pandemic
spreads.
    Moderna said its experimental vaccine was 94.5%
effective in preventing COVID-19 infection, becoming the second
U.S. company after Pfizer last week to report promising
results in trials.
    "We remain cautious of the ever increasing cases of COVID-19
even as vaccine hopes dominate market sentiments for now,"
Maybank analysts wrote in a note. 
    Stocks in Jakarta were at their highest since March,
and Singapore since June. Both countries' stock markets
have seen strong gains in November so far on Joe Biden's U.S.
presidential election win and vaccine developments. 
    In Malaysia, sharp losses by Top Glove Corp held
back broader gains. The glove maker fell 10% after tighter
movement curbs in an area where its dormitories are located will
impact about 15% of its total factory workforce.
    Stock market gains in South Korea were capped by
tighter curbs at home, while the won edged 0.2%
higher.
    Currencies in the region made broad gains against the U.S.
dollar, as appetite for the greenback was hindered by some U.S.
states stepping up restrictions to counter the spread of the
virus, and by the lack of cooperation Biden has received from
the Trump administration for a transition of government.
    The Thai baht rose 0.3% ahead of Wednesday's
central bank meeting. Economists polled by Reuters expect the
Bank of Thailand to keep its policy rate at a record low.

    The Indonesian rupiah was up 0.6%, with economists
expecting the central bank there also to keep rates unchanged,
underpinning the appeal of its high-yielding local bond market.

    The yield on its benchmark 10-year bonds fell
5.4 basis points to 6.228%. Bond yields fall as prices rise.
           
    HIGHLIGHTS:
    ** Singapore shares up over 14% so far in November, and
Indonesia over 8% 
    ** Top gainers in Jakarta include Maming Enam Sembilan
Mineral Tbk PT and Adhi Karya (Persero) Tbk PT
 
    ** Thai Beverage PCL and Jardine Strategic
Holdings Ltd led gains in Singapore
           Asia stock indexes and currencies at 0348 GMT
 COUNTRY      FX RIC      FX       FX     INDEX    STOCKS   STOCKS
                          DAILY %  YTD %           DAILY %  YTD %
 Japan                    +0.09    +3.96           0.03     9.54
 China                    +0.23    +6.03           -0.20    9.51
 India                    +0.00    -4.32           0.00     5.03
 Indonesia                +0.57    -1.00           0.91     -11.98
 Malaysia                 +0.28    -0.35           0.04     0.72
 Philippines              -0.08    +5.06           0.20     -11.30
 S.Korea                  +0.22    +4.47           0.13     15.86
 Singapore                +0.09    +0.01           0.97     -13.91
 Taiwan                   +1.08    +5.63           0.62     13.66
 Thailand                 +0.30    -0.83           0.72     -13.86
 

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Simon Cameron-Moore)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up