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

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

    * Thai baht inches up ahead of central bank meeting 
    * Thailand, Indonesia up over 1% 
    * Top Glove slides 10%, weighs on Malaysian shares

    Nov 17 (Reuters) - Thailand, Indonesia and Singapore 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 and threatens to wreck the region's
recovery.
    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 mid-June. The stock markets of both
countries' have seen strong gains so far in November 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.

    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 0.4%, with economists
expecting the country's central bank to keep rates unchanged as
well, underpinning the appeal of its high-yielding local bond
market.
    The yield on its benchmark 10-year bonds fell
6.7 basis points to 6.214%. 
    HIGHLIGHTS:
    ** Singapore shares up over 14% so far in November, and
Indonesia over 8% 
    ** Singapore Airlines Ltd led gains in the
city-state  
           Asia stock indexes and currencies at 0643 GMT
 COUNTRY      FX RIC      FX       FX     INDEX    STOCKS   STOCKS
                          DAILY %  YTD %           DAILY %  YTD %
 Japan                    +0.06    +3.93           0.42     9.97
 China                    +0.27    +6.06           -0.64    9.03
 India                    +0.07    -4.25           0.37     5.41
 Indonesia                +0.43    -1.14           1.03     -11.88
 Malaysia                 +0.26    -0.38           0.28     0.97
 Philippines              -0.17    +4.97           0.59     -10.95
 S.Korea                  +0.24    +4.50           -0.15    15.54
 Singapore                +0.07    +0.00           0.91     -13.95
 Taiwan                   +1.09    +5.64           0.30     13.30
 Thailand                 +0.30    -0.83           1.09     -13.55
 
 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Simon Cameron-Moore and Anil D'Silva)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up