Rupiah rises ahead of BI meeting as Asian currencies climb



* Bank Indonesia rate decision due around 0700 GMT

* Chinese yuan hits highest since June

* AC Energy's renewable deals boost Philippine index

* Malaysia markets closed for a holiday

By Anushka Trivedi

Oct 19 (Reuters) - The Indonesian rupiah was firm on Tuesday ahead of the country's central bank meeting, as all Asian currencies gained against a dollar reeling from a weak manufacturing print in the United States.

The South Korean won KRW=KFTC and the Thai baht THB=TH led gains as they rose 0.4% each, while the Philippine peso PHP=PH , the Singapore dollar SGD= and Taiwan's dollar TWD=TP advanced.

The dollar index =USD , which measures the greenback against six peers, declined as U.S. factory output in September slowed because of a global chip shortage and after-effects of a hurricane in the country.

The rupiah IDR= rose 0.2% to 14,080 per dollar as investors looked to a Bank Indonesia (BI) meeting for guidance on monetary policy since it's widely expected to keep rates on hold to keep supporting economic recovery.

BI's policies to prioritise macroeconomic stability through a harsh COVID-19 wave have worked well so far, with rupiah being the best performer in the third-quarter among Asian currencies.

"The government's focus on tax reforms and re-opening the economy to tourism has also boosted policy credibility and brightened recovery prospects," Mizuho analysts said in a note.

"Substitution of Australian coal for Indonesian coal by China is adding to rupiah's allure at the margin," they added, as Indonesia is a net commodity exporter.

However, Jakarta stocks .JKSE dropped 0.6% to retreat from a near-record high after rising for six straight sessions.

The mood was upbeat because of a tech-fuelled rally on Wall Street overnight, with a rebound in Chinese markets anchoring gains in Asia a day after weak data stoked investor concerns about the world's second-largest economy.

Philippine stocks .PSI jumped as much as 1% to be a top gainer in the region, bolstered by AC Energy Corp ACEN.PS rallying 8% on approving a number of deals that would see the power generator stop using thermal coal by 2025.

Shanghai stocks .SSEC pushed higher, while the Chinese yuan CNY=CFXS climbed 0.3% to 6.41, blowing past a level it last hit in mid-June.

Markets were still watching out for any announcement from debt-laden developer China Evergrande Group 3333.HK as it approached the end of a 30-day grace period for a missed coupon payment that had been due on Sept. 23.

Financials markets in Malaysia were shut for a holiday.

HIGHLIGHTS

** Indonesian 10-year benchmark yields are down 0.3 basis points at 6.207%

** Singapore's 10-year benchmark yield is down 1.9 basis points at 1.707%

** Singapore shares .STI up 0.5%, top gainers are: DBS Group Holdings Ltd DBSM.SI . up 1.8% and Hongkong Land Holdings Ltd HKLD.SI , up 1.2%

Asia stock indexes and currencies at

0349 GMT

COUNTRY

FX RIC

FX DAILY %

FX YTD %

INDEX STOCKS DAILY % STOCKS YTD % Japan

JPY=

+0.14

-9.56 .N225

0.65

6.45 China

CNY=CFXS

+0.29

+1.83 .SSEC

0.70

3.46 India

INR=IN

+0.00

-3.02 .NSEI

0.00

32.15 Indonesia

IDR=

+0.16

-0.31 .JKSE

-0.43

10.89 Philippines

PHP=

+0.22

-5.36 .PSI

0.45

1.57 S.Korea

KRW=KFTC

+0.52

-8.06 .KS11

0.67

5.34 Singapore

SGD=

+0.28

-1.81 .STI

0.52

12.19 Taiwan

TWD=TP

+0.21

+1.89 .TWII

1.21

14.76 Thailand

THB=TH

+0.36

-10.14 .SETI

-0.19

13.21



Graphic: World FX rates Link
Asian stock markets Link
Emerging Asia currencies in Q3 Indonesian rupiah outperforms
peers in Q3 Link



Reporting by Anushka Trivedi in Bengaluru; Editing by
Christian Schmollinger

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