EMERGING MARKETS-Asian currencies, stocks hit as Trump widens app attack

    * Graphic: World FX rates
    * Graphic: Foreign flows into Asian stocks
    * Yuan's fall hits most Asian currencies
    * Philippine stocks slip 1.2% as coronavirus cases surge 

    By Rashmi Ashok
    Aug 7 (Reuters) - Tensions over a planned U.S. ban on major
Chinese apps hurt most Asian markets on Friday, with Philippine
stocks taking an added hit after a jump in coronavirus
infections lifted the country's case load to the highest in
Southeast Asia. 
    Malaysia's ringgit, often seen as a proxy for China's yuan,
lost 0.3% while the South Korean won fell 0.4%
as investors worried about further trade restrictions would be
the end result of the tensions. 
    Citing security concerns, President Donald Trump issued
executive orders on Thursday that will ban U.S. transactions
with ByteDance, the Chinese owner of the popular video-sharing
app TikTok, and Tencent, owner of the WeChat app, in
45 days time.
    That sank Chinese markets in morning trade, and the rest of
the region followed. The Singapore dollar, another trade-
and China-sensitive currency, fell 0.3%.
    Apart from the obvious fallout to Tencent and ByteDance,
Washington DC's moves are sure to ratchet up geopolitical
tensions with Beijing once again, after a relatively quiet
couple of weeks, said Jeffrey Halley, senior market analyst at
    "We would expect the sell-off to gather pace as the day goes
on, with investors reducing risk into what could be a fraught
U.S. session," he said.
    The rising geopolitical tensions come at a time when a
number of the region's developing economies are struggling with
fresh coronavirus outbreaks. 
    Philippine equities fell as much as 1% after the
country recorded a surge in infections late on Thursday,
overtaking Indonesia as the worst hit country in Southeast Asia.
The capital Manila has been placed in a fresh lockdown.
    The spike in cases also followed dismal data on Thursday
which showed gross domestic product plunged 16.5% in the second
    Thailand's baht also eased as it delayed plans for
a "travel bubble" agreement with select countries with low
infections, citing the second wave of cases. That will put
pressure on its vital tourism industry and complicate efforts to
revive a battered economy.
    The Malaysian ringgit trimmed initial losses after data was
released showing industrial production fell a marginal 0.4% in
June from last year, far from the 10.4% fall forecast by
analysts surveyed by Reuters.
    The Indonesian rupiah eased, as the central bank
bought 82.1 trillion rupiah ($5.63 billion) of government bonds
in a private placement, the first transaction under a COVID-19
burden-sharing scheme with the government that some analysts say
carries inflationary risks.
    ** In the Philippines, top index losers were Bank of the
Philippine Islands down 3.66% and SM Investments Corp
 down 2.85%
    ** Top losers on the Singapore STI included Genting
Singapore Ltd down 4.93% and Thai Beverage PCL
 down 4% 
    ** Indonesian 10-year benchmark yields fell 1.6 basis points
to 6.782%​​ while 3-year benchmark yields eased 0.2 basis points
to 5.265%​​ 
  Asia stock indexes and                                   
 currencies at   0401 GMT                             
                        DAILY  YTD %               S  S YTD
                            %                  DAILY      %
 Japan                  -0.07  +2.84           -0.93  -6.12
 China        <CNY=CFX  -0.27  -0.14           -1.45   9.42
 India                   0.00  -4.74           -0.28  -8.22
 Indonesia              -0.14  -4.93           -0.78  -18.4
 Malaysia               -0.21  -2.53           -0.54  -0.56
 Philippines            -0.03  +3.18           -1.00  -25.2
 S.Korea      <KRW=KFT  -0.37  -2.65           -0.11   6.48
 Singapore              -0.28  -2.03           -1.12  -21.4
 Taiwan                 +0.40  +2.46           -0.87   6.70
 Thailand               -0.38  -4.17           -0.44  -15.9

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Patrick
Graham and Lincoln Feast.)