Singapore stocks on track for fifth straight weekly gain; FX upbeat
Singapore stocks at over six-year high
Thai shares add 0.6%
Growth likely at upper end of 2-3% range - MAS managing director
By Sneha Kumar and Ayushman Ojha
Sept 13 (Reuters) -Singapore equities were headed for their fifth straight week of gains on Friday as the island-state's strong economic outlook boosted investor sentiment, while Asian currencies were upbeat after encouraging U.S. data.
Stocks in Singapore .STI rose 0.2%by midday, hovering around the more-than-six-year-high they notched on Thursday. The Singapore dollar SGD= was trading 0.2%higher against the greenback.
"I think the economic outlook for Singapore is quite optimistic," said Jeff Ng, head of Asia macro strategy at Sumitomo Mitsui Banking.
"The central bank is expected to continue to appreciate the currency in terms of the monetary policy funds. So I think that will continue to support the currency strength."
The managing director of the Monetary Authority of Singapore (MAS), the country's central bank, at a forum on Friday said the island's economy is likely to expand at upper end of its 2-3% growth range.
Elsewhere in the region, stocks in Thailand .SETI added 0.6%, a day after Prime Minister Paetongtarn Shinawatra outlined her government's plans to the parliament which included giving around $13.4 billion in one-time cash assistance to its citizens to spur consumption.
"We do note that the relative political stability could be boosting appetite for Thai stocks as inflows have been strong recently and this could also be giving support for the baht," said Maybank analysts.
The Thai baht THB=TH gained as much as 0.5%,hitting its highest in over 18 months as lawmakers move to boost Southeast Asia's second largest-economy.
Apart from relative political stability since the new PM has taken the helm and inflows from investors who are re-evaluating emerging markets as the U.S. Federal Reserve looks to cut interest rates, the Thai baht has also benefited from gold prices scaling record highs.
Other Asian currencies also were trading higher after traders increased their bets for a 50 basis points interest rate cut by the Fed after media reports suggested the decision was a tough one for officials.
The Indonesian rupiah IDR=, Philippine peso PHP=, Malaysian ringgit MYR= and Taiwan dollar TWD=TP gained between 0.2%and 0.4%.
A large half-point rate cut from the Fed this month is back on the table, with traders pricing a 43% chance for a such move, compared with just 14% a day earlier, according to CME FedWatch tool.
HIGHLIGHTS:
** Thailand's new PM outlines policies to parliament as consumer mood drops - nL1N3KU064
** Singapore growth likely at upper end of 2-3% range, MAS managing director says - nL4N3KV06D
All Asian currencies and stocks as of 0414 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.65 | +0.13 | .N225 | -0.77 | 9.80 |
China | CNY=CFXS | +0.17 | -0.11 | .SSEC | -0.09 | -8.75 |
India | INR=IN | +0.04 | -0.86 | .NSEI | -0.26 | 16.53 |
Indonesia | IDR= | +0.19 | +0.00 | .JKSE | 0.06 | 7.29 |
Malaysia | MYR= | +0.42 | +6.37 | .KLSE | 0.39 | 13.06 |
Philippines | PHP= | +0.25 | -1.16 | .PSI | 0.26 | 9.19 |
S.Korea | KRW=KFTC | +0.94 | -3.09 | .KS11 | -0.21 | -3.34 |
Singapore | SGD= | +0.21 | +1.58 | .STI | 0.15 | 9.92 |
Taiwan | TWD=TP | +0.31 | -4.04 | .TWII | 0.21 | 21.01 |
Thailand | THB=TH | +0.41 | +2.61 | .SETI | 0.57 | 0.98 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Ayushman Ojha and Sneha Kumar in Bengaluru; Editing by Kim Coghill
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
