MARCHÉS ÉMERGENTS – Les actions de Singapour bondissent alors que l’Asie prend les signaux de la Fed dans la foulée

    * Thai baht set to snap 5-day losing run
    * Singapore stocks track best day in 2 months
    * Markets look for Evergrande update

    By Shashwat Awasthi
    Sept 23 (Reuters) - Singapore equities headed for their best
day in two months on Thursday, leading broad gains in emerging
Asian stocks, as investors reacted calmly to the U.S. Federal
Reserve's timeline to taper asset purchases and hike rates.
    The U.S. central bank on Wednesday cleared the way to begin
reducing its monthly bond purchases as soon as November, and
half of its policymakers projected borrowing costs will need to
rise in 2022.
    Asian shares also found some solace on Thursday after
embattled property developer China Evergrande's
chairman sought to reassure investors and the company's unit
said it had "resolved" a coupon payment on an onshore bond.
 
    Singapore shares were on track for their best day
since July 22, while stocks in Indonesia, Malaysia
 and Thailand added around 0.5% each.
    Manila stocks traded 0.4% higher, while the peso
 was flat as Bangko Sentral ng Pilipinas' (BSP) was
expected to keep interest rates at a record low.
    "With headline inflation stubbornly above BSP's 4% top-side
and rising even as economic prospects are dimmed by the Delta
outbreak and associated lockdowns, BSP is in a bind," Mizuho
analysts said.
    Philippines' inflation quickened to 4.9% last month, above
the policymakers' 2%-4% target range, which economists have
warned is likely to limit BSP's room for further policy easing.
    "While headline CPI showed an upside surprise in Aug, the
implementation of direct non-monetary measures are seen to
mitigate further supply-side pressures," analysts at Maybank
said.
    They expect BSP to maintain its 2% policy rate until
2021-end to support economic recovery.
    Several regional currencies including the Singapore dollar
 and Malaysian ringgit inched up after the U.S.
dollar eased from session highs, even as Evergrande's deadline
to pay interest on a dollar bond loomed.
    The Thai baht recovered from a 0.4% drop earlier in
the session to trade flat, despite the country's decision to
delay reopening cities to foreign tourists.       
    South Korean stocks played catch-up on their return
to trading after an extended holiday, but slipped 0.4%.
    
    HIGHLIGHTS:
    ** Indonesian 10-year benchmark yields up 1.3
basis points at 6.218%.
    ** The top gainer on the Singapore benchmark index was
Hongkong Land Holdings, up 4.3%.    
    
       Asia stock indexes and                       
      currencies at 0638 GMT                      
 COUNTRY   FX RIC      FX     FX    INDE  STOCKS  STOCK
                     DAILY   YTD %   X    DAILY   S YTD
                       %                    %       %
  Japan              -0.07   -6.03  <.N2   0.00   8.00
                                    25>           
  China                        EC>           
  India              +0.19   -0.90  <.NS   1.06   26.83
                                    EI>           
 Indones             -0.04   -1.44  <.JK   0.41   2.58
   ia                               SE>           
 Malaysi             +0.12   -3.97  <.KL   0.55   -5.52
    a                               SE>           
 Philipp             +0.06   -4.48  <.PS   0.36   -3.14
  ines                               I>           
 S.Korea                       11>           
 Singapo             +0.25   -2.17  <.ST   1.28   8.55
   re                                I>           
 Taiwan              +0.04   +2.56  <.TW   0.90   15.92
                                    II>           
 Thailan             +0.06   -10.3  <.SE   0.45   12.25
    d                          5    TI>           
 
    
 (Reporting by Shashwat Awasthi; Editing by Ramakrishnan M.)
  

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