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POLL-Rising US yields hurt Asia FX sentiment; yuan views most bearish in 10 mths

* Yuan bearish bets at over 10-month high on weak PBOC
fixings
    * Ringgit short positions 13-month peak on Malaysia's step
on NDFs
    * Sing dlr bearish bets 15-mth high on risks of recession,
easing
    * Won short positions at 6-month peak on outflows, Korea
politics
    * Philippine peso views worst since 2008 global financial
crisis

    By Jongwoo Cheon
    SINGAPORE, Nov 24 (Reuters) - Sentiment towards emerging
Asian currencies deteriorated sharply in the last two weeks as
expectations of higher U.S. interest rates sent the dollar
higher, prompting investors to dump regional stocks and bonds, a
Reuters poll showed.
    For the first time in more than nine months, sentiment on
all of the nine regional currencies covered in the Reuters poll
turned bearish on fears of further capital outflows.
    The dollar has been bolstered by views that President-elect
Donald Trump will ramp up fiscal spending and reflate the
economy.
    Selling of emerging market assets also has been compounded
by fears that Trump's protectionist stance could hurt Asia's
export-reliant economies or even trigger a trade
war. 
    Bearish bets on China's yuan are likely the
largest since early January, according to the survey of 16 fund
managers, analysts and currency traders conducted between
Tuesday and Thursday.
    The renminbi hit an 8-1/2-year low on Thursday as the
People's Bank of China set its daily guidance rate at
its weakest since June 2008.
    It has now lost more than 6 percent against the dollar so
far this year, with selling accelerating since Trump's Nov. 8
election ignited the dollar.
    
    ALL BEARISH
    Malaysia's ringgit saw the highest pessimistic
positions since October 2015.
    Bank Negara Malaysia earlier this month asked foreign banks
to make a written commitment to stop trading the ringgit in the
offshore non-deliverable forwards market in a move to protect
the currency. 
    The move spurred fears that authorities were preparing to
impose capital controls, despite denials by the central bank.
The currency fell to a near 14-month low on
Thursday. 
    Singapore's dollar suffered the largest bearish
bets since August last year as the government slashed its
economic growth and export forecasts for 2016 after confirming
the economy contracted in the third quarter. 
    With any rebound in sluggish global demand unlikely in the
next few months, the economy is at risk of slipping into
recession, keeping expectations of further policy easing alive.
    The South Korean won saw the highest pessimistic
positions since late May as foreign investors cut holdings in
one of the most liquid emerging Asian assets.
    A deepening political crisis surrounding the country's
President Park Geun-hye also hurt investor sentiment. 
    Prosecutors said on Sunday that they believed Park was an
accomplice in a corruption scandal that has rocked her
administration in a heavy blow to her fight for political
survival. 
    The Philippine peso likely attracted the largest
bearish bets since November 2008 as equity outflows pushed the
currency to the lowest since the global financial crisis.
    Sentiment on India's rupee turned pessimistic with
its short positions the highest since late May as foreign
investors dumped local stocks and bonds.
    The rupee on Thursday slid to a new record low, despite
repeated central bank interventions. 
    Bearish bets on the Indonesian rupiah rose to the
largest since late May on equity and bond outflows. Views on the
Taiwan dollar were also worst in almost six months.
    The poll is focused on what analysts and fund managers
believe are the current market positions in nine Asian emerging
market currencies: the Chinese yuan, South Korean won, Singapore
dollar, Indonesian rupiah, Taiwan dollar, Indian rupee,
Philippine peso, Malaysian ringgit and the Thai baht.
    The poll uses estimates of net long or short positions on a
scale of minus 3 to plus 3. A score of plus 3 indicates the
market is significantly long U.S. dollars. The figures include
positions held through non-deliverable forwards (NDFs).
    The survey findings are provided below (positions
in U.S. dollar versus each currency):

 DATE     CNY   KRW   SGD   IDR   TWD   INR   MYR   PHP   THB
 24-Nov   1.38  1.02  1.35  0.61  0.77  0.44  1.36  1.22  0.49
 10-Nov   1.19  0.86  1.13  0.16  0.26 -0.22  0.88  1.14  0.36
 27-Oct   1.23  0.60  1.17 -0.36  0.32 -0.20  0.58  0.91  0.44
 13-Oct   0.73  0.51  0.80 -0.38  0.29 -0.19  0.73  1.20  0.96
 29-Sept  0.41 -0.24  0.50 -0.75 -0.11 -0.41  0.51  0.87 -0.32
 15-Sept  0.70  0.00  0.19 -0.31 -0.10 -0.40  0.37  0.30 -0.04
 1-Sept   0.60 -0.16  0.13 -0.11 -0.23 -0.21  0.19 -0.04 -0.27
 18-Aug  -0.04 -1.08 -0.47 -0.81 -0.90 -0.60 -0.33 -0.49 -0.69
 4-Aug    0.12 -1.01 -0.52 -0.84 -0.67 -0.56  0.16 -0.04 -0.56
 21-July  1.01 -0.50  0.06 -0.63 -0.37  0.11  0.04  0.10 -0.20
 7-July   1.12 -0.11 -0.38 -0.69  0.09  0.24  0.06  0.18 -0.10
 23-Jun   0.51 -0.12 -0.47 -0.44 -0.03  0.32  0.11 -0.02 -0.04
    

 (Reporting by Jongwoo Cheon; Additional reporting by Khushboo
Mittal in BENGALURU; Editing by Kim Coghill)
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