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POLL-Long bets on Taiwan dollar, S.Korean won hit over 2-1/2-year high

    * Bullish bets raised on six of nine emerging Asian currencies
    * Short positions on Indonesian rupiah, Thai baht scaled back

    By Shashwat Awasthi
    Oct 15 (Reuters) - Long positions on the South Korean won and Taiwan's
dollar surged to a more than two-and-a-half year high, a Reuters poll showed, as
the export-reliant economies benefited from easing coronavirus lockdowns around
the world.
    Bets in favour of the Chinese yuan rebounded after a sharp
pullback earlier this month, while bearish positions on the Thai baht
and Indonesian's rupiah were trimmed, the fortnightly poll of 16
respondents showed.
    Taiwan's dollar, Asia's best performer so far this year as demand
for laptops and other gadgets among people working from home during the COVID-19
pandemic spurs the tech-heavy economy, saw bullish bets jump to their highest
since January 2018.
    South Korea's won has been propped up by rising exports while the
central bank has kept its policy rate at a historic low and reiterated an
accommodative monetary stance.
    While investors were still bearish on Indonesia's rupiah, they trimmed
positions from two weeks ago as Bank Indonesia (BI) again held off on cutting
interest rates this week, and lawmakers last week passed an "omnibus" bill to
improve investment climate and create jobs.
    Nicholas Mapa, a senior economist at ING, warned in a note this week that
though the rupiah has seen some reprieve since the passage of the law, it
"remains susceptible to potential weakness given investor anxiety over BI's
recent burden sharing agreement with the national government."
    Investors were also still short on the Thai baht after turning bearish
earlier this month as protests against the government and monarchy overshadow
efforts to rejuvenate the economy, in particular the key tourism sector.

    Long bets on Malaysia's ringgit inched higher despite a political
tussle that has seen opposition leader Anwar Ibrahim stake his claim to form a
new government and call on Prime Minister Muhyiddin Yassin to resign.

    
    The Asian currency positioning 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):  
      
 DD/MM   CNY    KRW    SGD    IDR    TWD    INR    MYR    PHP    THB
 15/10  -1.07  -0.94  -0.72  0.35   -1.12  -0.44  -0.33  -0.15  0.10
 01/10  -0.47  -0.53  -0.25  0.61   -0.68  -0.31  -0.31  -0.68  0.38
 17/09  -1.25  -0.60  -0.61  0.39   -0.51  -0.54  -0.89  -1.07  -0.17
 03/09  -1.41  -0.71  -0.99  -0.19  -0.40  -0.91  -0.96  -1.34  -0.15
 20/08  -1.02  -0.71  -0.69  0.43   -0.31  -0.35  -0.62  -1.12  -0.21
 06/08  -0.81  -0.44  -0.57  0.45   -0.54  -0.31  -0.29  -0.76  -0.2
 23/07  -0.8   -0.19  -0.09  0.61   -0.34  -0.38  -0.22  -0.61  0.24
 09/07  -0.37  -0.06  0.13   0.26   -0.22  -0.33  -0.07  -0.48  -0.09
 25/06  0.08   0.16   -0.05  -0.05  -0.28  0.10   0.07   -0.05  -0.24
 11/06  0.14   -0.05  -0.19  -0.69  -0.26  0.00   0.08   -0.39  -0.41
 
    
 (Reporting by Shashwat Awasthi in Bengaluru; Editing by Subhranshu Sahu)
  
 
 
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