Emerging markets: Indonesia stocks trip as central bank seen holding rates

Upbeat Chinese data supported other emerging Asian share markets at the start of a week that also sees meetings of the US Federal Reserve and Bank of Japan.

Brokerage Samuel Sekuritas in a note to clients also cited profit-taking for the weakness in Indonesian equities. Bank Indonesia has had to intervene to stabilize the currency multiple times this month as foreign investors worry about the bank's independence, the country's debt and growth prospects.

The emerging positions, however, are far less extended, reflecting the risks investors see around growth and the heavy load of coronavirus cases across a number of major developing markets. Singapore stocks advanced 0.5%. In the Philippines, which reported record coronavirus deaths for the second time in three days on Monday, shares recouped earlier losses to gain 0.4%.

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