* Graphic: World FX rates tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks tmsnrt.rs/3f2vwbA * Thailand's central bank downgrades 2020 growth forecast * Philippine bourse shuts trading floor due to coronavirus case By Shriya Ramakrishnan June 24 (Reuters) - The Thai baht gained on Wednesday after the central bank left its key rate unchanged as expected, while Philippine shares were the worst hit among Asia's emerging markets as the country reported a huge spike in coronavirus infections. The Bank of Thailand left its policy rate unchanged at a record low of 0.50% but downgraded its economic outlook for the year. The baht strengthened as much as 0.3% against the dollar after the decision, while Thai stocks were largely unchanged as most analysts said the economic downgrade was anticipated. "Asian economies are broadly expected to suffer the COVID-19 stricken reality and it is likely we will be seeing that continue to be reflected with the BoT's economic forecast," Jingyi Pan, a market strategist at IG Asia said. Most other Asian currencies also advanced as the dollar came under pressure following stronger U.S. and European economic data. South Korean shares and the won outperformed after reports that North Korea had decided to suspend military action plans against the South. In the Philippines, the benchmark stock index dropped 1.73% and the peso dipped, a day after the country recorded its biggest single-day increase in coronavirus cases. The Philippine stock exchange closed its headquarters and trading floor for 24 hours after an employee tested positive for the virus, but said trading was not affected. "I think this amplifies the spike seen in COVID-19 cases around the world, raising fears of a second wave in certain areas," said Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines. "There is just a lot of uncertainty that the COVID-19 pandemic really brings and this seeming "dance" global markets have to face may be here to stay for quite some time." The Chinese yuan rose to a near two-month high before giving up all gains due to a rise in corporate dollar demand ahead of a long weekend. Financial markets in China are closed from Thursday, with trading resuming on Monday. Asia stock indexes and currencies at 0740 GMT COUNTRY FX RIC FX DAILY FX YTD INDEX STOCKS STOCK % % DAILY S YTD % % Japan -0.06 +1.91 -0.07 -4.74 China <CNY=C -0.21 -1.54 0.30 -2.31 FXS> India <INR=I -0.11 -5.74 0.53 -13.4 N> 9 Indonesi +0.11 -1.53 1.65 -21.2 a 7 Malaysia +0.07 -4.24 -0.36 -5.48 Philippi -0.10 +1.14 -1.73 -20.8 nes 1 S.Korea <KRW=K +0.78 -3.59 1.42 -1.65 FTC> Singapor +0.11 -3.24 0.03 -18.2 e 2 Taiwan <TWD=T -0.01 +1.58 0.42 -2.80 P> Thailand <THB=T +0.39 -2.92 0.10 -14.0 H> 6 (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Amy Caren Daniel)
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