SINGAPORE: South Korea led gains across Asia's emerging stock markets on Monday as an improvement in Chinese factory data calmed nerves over a ramp up in US-China tensions ahead of trade talks at the end of the week.
Trading was lighter than usual due to holidays in Japan and Singapore, and moves were tight in the region's currencies after gains in the past month due to weakness in the US dollar. Both Malaysia's ringgit and Indonesia's rupiah eased around a quarter of a percent.
In the Philippines, shares rose 1.5% late in the session on hopes that the capital, Manila, could reopen as planned by the middle of next week even as Covid-19 cases spike.
Malaysia was the outlier, falling 0.5% as the country's top glove makers fell sharply after a recent run of gains. Top Malaysian glove makers Top Glove Corp and Hartalega Holdings fall 2.4% and 2.7%, respectively Indonesian 3-year benchmark yields are up 5.3 basis points to 5.315%.
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