* Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3f2vwbA
* Singapore, Philippine shares hit one-month low
* Korean stocks track worst day in two weeks
By Shashwat Awasthi
Sept 4 (Reuters) – Most stock markets in emerging Asia slid on Friday after a steep selloff on Wall Street heightened investors’ concerns ahead of U.S. jobs data later in the session.
Trading among regional currencies was muted, with most roughly flat on the day as the U.S. dollar steadied and investors held their bets ahead of U.S. non-farm payrolls data.
U.S. indexes marked their biggest one-day falls since June on Thursday, leading Singapore stocks to their lowest in more than a month, while Philippine shares were set for their third straight weekly loss.
Bourses in South Korea and Taiwan , which house heavyweight tech stocks, shed 1.6% and 1.3% respectively, after dealers booking profits in the U.S. sent the tech-heavy Nasdaq plummeting 5% on Thursday.
Analysts said the payrolls report could deepen the selling, as data is expected to show fewer jobs created in August compared with July. MKTS/GLOB
“I do see the element of caution retained ahead of payrolls release,” said Jingyi Pan, a market strategist at IG.
“Unlike the private ADP (NASDAQ:) employment miss earlier in the week, the reaction is not likely to be muted if we find a disappointment here as well. Asia markets may stay under pressure into next week if the sell-off on Wall Street continues.”
Stocks in Indonesia retreated more than 1%. Its market has been plagued this week by concerns over the central bank’s independence after a proposal which could lead to more political influence on its monetary policy and economic growth.
The rupiah eased 0.2% and was set for its worst week in seven as experts urged the government to revamp its strategy to tackle the coronavirus pandemic, as fresh cases rise at a record rate in the world’s fourth most populous nation. Thailand, which reported its first domestic coronavirus transmission in more than 100 days on Thursday, markets were closed for a holiday.
** Singapore’s 10-year benchmark yield is down 2 basis points at 0.95%
** Top losers on the Singapore STI include Venture Corporation down 4.01%, CapitaLand Commercial Trust down 2.98% and Keppel Corporation down 2.46%
** Top losers on the Jakarta stock index include Dewata Freight International down 6.93%, Delta Djakarta down 6.92% and Fortune Mate Indonesia down 6.92%
Asia stock indexes and currencies at 0407 GMT
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