EMERGING MARKETS-Malaysia ticks higher after parliament approves budget

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Malaysia approves 2021 budget in key victory for PM * Investors raise bullish positions on most Asian currencies- poll * Singapore's October industrial output declines unexpectedly By Shruti Sonal Nov 26 (Reuters) - Malaysia's ringgit and stock markets gained ground on Thursday after parliament approved the 2021 budget in a major win for Prime Minister Muhyiddin Yassin, ensuring his political survival amid a deepening health and economic crisis. Muhyiddin, who has faced infighting in his ruling coalition and a leadership challenge from opposition leader Anwar Ibrahim since coming to power, had called for cross-party support for the budget. "It's good news for the markets. It means there will be no major hurdles for the PM in the short term," said Danny Wong, chief executive officer of fund management firm Areca Capital. The ringgit was up 0.4% after the news, while the benchmark stock index climbed 0.9%. The gains came as other Asian currencies again inched higher to the dollar, with the Singapore dollar and Indonesia's rupiah benefitting from the past fortnight's general improvement in investors' appetite for higher-yielding assets globally. A Reuters poll showed investors have raised bullish positions on most Asian currencies, on the back of promising COVID-19 vaccine trial results this month and the hopes for economic recovery next year they have stirred. The outlook for Asian assets is improving further, said Mitul Kotecha, senior EM strategist at TD Securities. "A few factors will likely drive the yuan and Asian FX higher going forward, including relatively stronger growth compared to other regions, improving external balances, likely less trade barriers under a Biden administration and the U.S. dollar's weakness," Kotecha added. Stock markets in the region were mixed, with the Singapore bourse, up about 18% for the month, dipping 0.8%. The city-state's industrial output unexpectedly declined 0.9% year-on-year in October, missing economists' forecasts, with biomedical and electronics manufacturing cooling from the previous month's strong pace, official data showed. Highlights: ** Malaysia's 10-year benchmark yield is up 2.2 basis points at 2.678% ** Top gainers on FTSE Bursa Malaysia Kl Index include Top Glove Corporation Bhd, Press Metal Aluminium Holdings and Telekom Malaysia Bhd ** Thailand sees first trickle of tourists in October as curbs ease Asia stock indexes and currencies at 0819 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD % X S S YTD % DAILY % % Japan +0.16 +4.15 <.N2 0.91 12.18 25> China <CNY=CFX +0.13 +5.97 <.SS 0.22 10.48 S> EC> India +0.12 -3.31 <.NS 0.30 5.99 EI> Indones +0.28 -1.49 <.JK 1.42 -8.57 ia SE> Malaysi +0.39 +0.49 <.KL 0.83 1.39 a SE> Philipp -0.08 +5.37 <.PS -1.05 -11.3 ines I> 6 S.Korea <KRW=KFT +0.39 +4.69 <.KS 0.94 19.49 C> 11> Singapo +0.06 +0.41 <.ST -0.60 -11.5 re I> 0 Taiwan +0.02 +4.49 <.TW 0.78 15.41 II> Thailan +0.08 -1.29 <.SE 0.88 -9.60 d TI> (Reporting by Shruti Sonal in Bengaluru; additional reporting by Rashmi Ashok and A K Pranav; Editing by Subhranshu Sahu)