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EMERGING MARKETS-Thai baht falls to 9-month low, broader market rebounds

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* Graphic: World FX rates * Asian stock markets: * Taiwan stocks eye best day in 3 weeks * Indonesia stocks set to snap 4-day losing streak * Investors await speech from Fed chief Jerome Powell By Harish Sridharan June 22 (Reuters) - The Thai baht hit a near nine-month low on Tuesday, extending losses for a seventh straight session, as the U.S. Federal Reserve's recent hawkish turn continued to weigh on the currency. Equity markets across Asia tracked a global overnight rebound on Wall Street, as market participants turned their attention to economic growth. The baht, which has come under pressure along with its regional peers after the Fed last week indicated earlier than expected policy tightening, dipped to its lowest since Sept. 30, 2020. "The baht's recent weakening is largely due to the U.S. Fed's recent hawkish pivot, likely exacerbated by Thailand's already weak economic fundamentals due to the virus situation," said Dhiraj Nim, FX strategist at ANZ Research. While strict entry requirements and quarantine measures initially helped keep Thailand's coronavirus outbreaks under control, the curbs saw revenue from its key tourism sector plummet. Investors are also awaiting a Bank of Thailand meeting on Wednesday, where the central bank is expected to keep its policy rate at a record low, but likely cut its economic growth outlook. Several other currencies in the region benefitted from a weaker U.S. dollar, however, as investors looked ahead to a testimony from Federal Reserve Chairman Jerome Powell. "We are keeping a lookout for if Fed officials will attempt to reassure markets that the Fed is not about to start a tightening cycle pre-emptively," said Christopher Wong, senior FX strategist at Maybank. "However if there is none...and instead more hawkish talk, then USD rise could weigh on AxJs (Asia except Japan)." Indonesian stocks, which skidded 1.5% last week, snapped a four-day losing streak and jumped nearly 1.5% even as the country's total coronavirus cases passed the two million mark. Stocks in the Philippines and South Korea rose 0.7% and 0.6%, respectively, while Thai shares eyed their best session in nearly two weeks. Equities in Taiwan were on course to notch their best session in more than three weeks, a day after the island forecast strong demand for tech goods amid a sustained need for telecommuting products during worldwide lockdowns. HIGHLIGHTS ** Top gainer on the Jakarta stock index was Binakarya Jaya Abadi Tbk PT, up 34.67% ** Top loser on the Singapore STI was Venture Corporation Ltd, down 2.72% ** Indonesian 10-year benchmark yields are up 7.40 basis points at 6.637%​​ Asia stock indexes and currencies at 0347 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCK DAILY YTD % X DAILY S YTD % % % Japan -0.12 -6.51 <.N2 2.90 5.02 25> China EC> India +0.00 -1.40 <.NS 0.00 12.62 EI> Indones +0.14 -2.53 <.JK 1.42 1.72 ia SE> Malaysi +0.00 -3.02 <.KL 0.24 -3.14 a SE> Philipp -0.09 -1.43 <.PS 0.73 -3.68 ines I> S.Korea 11> Singapo -0.22 -1.78 <.ST -0.29 9.32 re I> Taiwan +0.04 +1.94 <.TW 0.63 16.55 II> Thailan -0.09 -5.25 <.SE 0.62 11.15 d TI> (Reporting by Harish Sridharan in Bengaluru; Editing by Jacqueline Wong)

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