* China's June factory activity dips to four-month low
* Thai stocks hit one week peak
* Graphic: World FX rates tmsnrt.rs/2RBWI5E
* Asian stock markets: tmsnrt.rs/2zpUAr4
By Soumyajit Saha
June 30 (Reuters) - Singapore stocks were poised for their
biggest daily gain in over a month on Wednesday after the
central bank said growth could exceed expectations this year on
strengthening global demand and progress in the country's
vaccination drive.
The FTSE Strait Times index in Singapore rose as much
as 1.6% after the central bank said growth could exceed the
upper end of the official 4%-6% forecast range this year.
Sentiment was further supported by government data bit.ly/3AcQr7f
showing a recent fall in daily coronavirus cases and local
media reports bit.ly/3y6wP2D of a ramp up in the
vaccination process, said Mitul Kotecha, chief EM Asia and
Europe strategist at TD Securities.
"The picture is getting constructive with respect to the
virus in Singapore," said Kotecha.
The situation in Singapore helped its equities outperform
largely tepid stock markets across the rest of Southeast Asia,
as the region continues to face a burgeoning coronavirus crisis.
Philippine stocks declined 0.3%, a day after the
nation extended curbs on movement and businesses in the capital
Manila and nearby provinces till mid-July and retained stricter
COVID-19 curbs in some other parts.
Still, the index was set to gain over 4.6% for the month.
Thailand stocks added to Tuesday's gains to hit a
one-week high, after falling for eight straight sessions, and
were set to add 0.7% for the June quarter.
Thailand's tourism- reliant economy, which has been hit by a
collapse in foreign visitors, could find some respite in its
auto sector, with the value of car exports tipped to surge to a
record this year.
Indonesian stocks continued to recuperate from
Monday's 1% drop, even as the country battles a raging virus
surge.
Most emerging Asian currencies were subdued, with the rupiah
and South Korea's won weakening slightly.
A dip in China's June factory activity to a four-month low
did little to affect sentiment, while data showing a rise in
U.S. consumer confidence overnight boosted a gauge of global
equities to near record highs.
HIGHLIGHTS
** Indonesian 10-year benchmark yields are up 3.3 basis
points at 6.643%
** Malaysia's 10-year benchmark yield is down 2.3 basis
points at 3.292%
Asia stock indexes and
currencies at 0357 GMT
COUNTRY FX RIC FX FX INDEX STOCK STOCKS
DAILY % YTD % S YTD %
DAILY
%
Japan +0.00 -6.57 0.05 5.03
China +0.10 +1.09 0.24 3.13
India +0.00 -1.56 0.18 12.84
Indonesia -0.14 -3.17 0.51 0.01
Malaysia -0.05 -3.18 -0.35 -5.19
Philippines -0.05 -1.41 -0.22 -2.78
S.Korea -0.13 -3.88 0.40 14.84
Singapore +0.07 -1.73 1.34 10.09
Taiwan +0.08 +2.14 0.99 20.63
Thailand +0.06 -6.43 0.44 10.28
(Reporting by Soumyajit Saha in Bengaluru; Editing by Ana
Nicolaci da Costa)
