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EMERGING MARKETS-Thai baht weakens, Singapore stocks fall on virus fears

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* Thai stocks snap eight sessions of losses * Indonesian rupiah falls to over two-month low * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Soumyajit Saha June 29 (Reuters) - The Thai baht remained near a 13-month low on Tuesday, while Singapore stocks dropped to their lowest in over a month, as concerns about the economic impact of rising novel coronavirus cases in Southeast Asia hurt sentiment. The baht broke the 32-level against the U.S. dollar for the first time since May 2020, as the tourism-reliant economy struggled against the country's worst virus outbreak. The Thai central bank said on Tuesday it is considering adjusting the foreign exchange regulatory framework to help the economy better cope with volatility, a day after predicting the economy to return to pre-pandemic levels in the first quarter of 2023. A surge in the region's cases also hurt Singapore stocks , which snapped a three-day winning streak to drop to their lowest level since May 17. "Another wave of viral infections is hurting sentiment in Southeast Asia... with Singapore still under quasi lockdown a lot of institutional investors are turning bearish, and retail investors are following the signal," said Margaret Yang, a forex strategist with IG Group. Indonesia's rupiah slid to its weakest level in over two months as it faced a virus resurgence that the Red Cross said had put the country on the "edge of a COVID-19 catastrophe". Singapore-based Strait Times newspaper reported, citing sources, that Indonesia plans to impose stricter restrictions from Wednesday. Regional currencies were also pressured by a stronger U.S. dollar that hovered just below a two-month peak, as investors awaited a U.S. jobs report on Friday that could influence the Federal Reserve's view on stimulus tapering. Meanwhile, Vietnam stocks hit a record high after data showed the nation's economic growth accelerated in the second quarter of the year, while its trade deficit narrowed. Thai stocks were also higher after eight straight sessions of losses, while Philippine shares rose to their highest in nearly two weeks. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 1.1 basis points at 6.602% ** Top losers on the Singapore index include Genting Singapore Ltd down -2.92% and Keppel Corp down -2.86% Asia stock indexes and currencies at 0728 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY YTD % % % Japan -0.05 -6.71 -0.81 4.99 China -0.04 +1.07 -0.92 2.88 India -0.05 -1.57 -0.33 12.74 Indonesia -0.21 -2.97 0.05 -0.61 Malaysia -0.17 -3.13 0.21 -4.87 Philippines +0.15 -1.15 0.27 -2.56 S.Korea +0.16 -3.75 -0.46 14.38 Singapore -0.03 -1.66 -0.87 9.00 Taiwan +0.06 +2.12 0.04 19.45 Thailand -0.19 -6.38 0.46 9.46 (Reporting by Soumyajit Saha in Bengaluru; editing by Uttaresh.V)

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