* Jakarta stocks edge higher, rupiah slips
* S.Korea's KOSPI rebounds after 10% plunge
* Singapore stocks touch record high
* Thai baht at 13-month lows
(.)
June 24 (Reuters) - Indonesia's stocks edged higher on Wednesday after index provider
MSCI ( MSCI ) deferred its review of the country's emerging market status to November, while the
rupiah extended losses, nearing the key 18,000 level.
South Korea's benchmark KOSPI index jumped more than 4% in the first 30 minutes
of trading after a 10% plunge in the previous session, with the earlier decline largely
attributed to profit-taking following a sharp rally in chipmaker stocks.
The rebound in South Korean equities lifted the MSCI Emerging Markets Asia gauge
slightly, though it remained near six-session lows. An index tracking ASEAN
stocks, dominated by Singapore's banks, was little changed.
In Indonesia, the Jakarta Composite Index added 0.5% after a two-day slide, with
investors taking some comfort from MSCI's ( MSCI ) decision to defer its review.
The index provider said reforms introduced so far in Indonesia were a "step in the right
direction", but warned it could consider options including a consultation on a downgrade to
frontier market status if sufficient progress is not made by November.
The rupiah weakened to 17,955 per U.S. dollar, within a striking distance of the
key 18,000-mark and its lifetime low of 18,190 a piece. Yield on Indonesia's 10-year
sovereign bonds edged higher to 7.263%, while that on a one-year bond
jumped to 7.975%.
Elsewhere in Southeast Asia, stocks in Singapore and Malaysia rose around
0.5% each, with those in the city-state notching a record high. The Thai baht
continued its decline, slipping to a 13-month low of 33.425 a dollar.
HIGHLIGHTS:
** Samsung Electronics ( SSNLF ) jump 10%, SK Hynix rise as much as 5.8%
** Singapore Airlines launches $221 million dim sum bond at 2.38% yield
** MSCI ( MSCI ) keeps South Korea at emerging market status, cites FX accessibility
Asia stock indexes and currencies at 0231 GMT
COUNTRY FX FX FX INDEX STOCKS STOCKS
RIC DAILY % YTD % DAILY % YTD %
Japan +0.01 -3.03 0.32 34.19
China +0.04 +2.89 -0.25 3.21
India +0.00 -5.14 0.00 -8.82
Indonesia -0.61 -7.11 0.50 -29.08
Malaysia -0.10 -2.08 0.53 0.52
Philippines -0.60 -4.29 -0.34 0.86
S.Korea -0.14 -6.23 2.86 100.25
Singapore -0.05 -0.86 0.47 12.57
Taiwan -0.16 -0.75 -1.67 59.90
Thailand -0.52 -5.80 - -