Asian currencies eke out gains on muted dollar
.
Thailand baht gains most among Asian FX
RBI holds interest rates at 6.50%
Shanghai stocks reverse Tuesday's gains
By Sneha Kumar and Archishma Iyer
Oct 9 (Reuters) -Most emerging Asian currencies registered minor gains against a broadly muted dollar on Wednesday, as investors sought data to assess the Federal Reserve's rate cut path.
Thailand's baht THB=TH appreciated as much as 0.8% before pulling back gains to 0.3%. It is the second-best performing currency in the region this year, after the Malaysian ringgit, with a near 2% jump.
The currency of Southeast Asia's second-largest economy has been buoyed recently by U.S. interest rate cut bets, stabilising politics and economic growth.
"For the baht, there could be some USD-selling interest from market players especially exporters as they have been waiting for the baht to weaken a bit," said Poon Panichpibool, a markets strategist at Krung Thai Bank.
At 0744 GMT, the dollar index inched higher to 102.64.
The Indonesian rupiah IDR= was up 0.2%, while the Malaysian ringgit MYR= rose marginally.
The Philippines peso PHP= was a notable outlier, falling about 0.3% to its lowest since mid-August.
"Until the sentiment-driven market aligns with the Fed’s underlying outlook for lower inflation and interest rates, currencies are likely to lack direction from markets over-reacting to better- or worse-than-expected data," analysts from DBS wrote.
Global investors are now awaiting a key inflation print from the U.S., as well as minutes from the Fed's latest monetary policy meeting later in the day, for a better sense of where interest rates could be headed.
Falling U.S. rates boost the attractiveness of riskier emerging market assets, particularly in Southeast Asia.
In India, stocks .NSEI rose as much as 0.9% after the Reserve Bank of India changed its policy stance to neutral and opened the door to cuts as early as December, while the rupee INR=IN remained flat.
The central bank maintained its key interest rate steady at 6.50% as expected.
Elsewhere, the Bank of Korea is expected to move with a 25-basis points cut later this week.
Among other Asian equities, Taipei .TWII rose as much as 1.2% to its highest level in nearly two weeks, before ending 0.2% higher.
Shares in Singapore .STI rose 0.5%, while Bangkok .SETI and Kuala Lumpur .KLSE inched up 0.2% each.
Meanwhile, equities in Shanghai .SSEC snapped a 10-day winning streak, tumbling 6.6% and erasing all gains from the previous session.
The index had risen as much as 10.1% on Tuesday on anticipation of more strong stimulus measures from Beijing which failed to materialise.
Markets in South Korea were closed for a public holiday.
HIGHLIGHTS:
** Thailand approves $400 mln investment by Continental AG to expand tyre facility
** India, S. Korea bonds to join FTSE Russell government indexes in 2025
** China's finance ministry to detail fiscal policy on Saturday
Asian currencies and stocks at 0744 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.20 | -5.00 | .N225 | 0.89 | 17.37 |
China | CNY=CFXS | +0.02 | +0.49 | .SSEC | -6.62 | 9.54 |
India | INR=IN | +0.01 | -0.89 | .NSEI | 0.53 | 15.72 |
Indonesia | IDR= | +0.16 | -1.41 | .JKSE | -0.48 | 3.41 |
Malaysia | MYR= | 0.05 | +7.17 | .KLSE | 0.19 | 12.66 |
Philippines | PHP= | -0.30 | -2.83 | .PSI | -1.50 | 15.11 |
S.Korea | KRW=KFTC | - | -4.31 | .KS11 | - | -2.29 |
Singapore | SGD= | -0.03 | +1.15 | .STI | 0.47 | 10.87 |
Taiwan | TWD=TP | 0.00 | -4.61 | .TWII | 0.21 | 26.37 |
Thailand | THB=TH | +0.25 | +2.03 | .SETI | 0.17 | 2.79 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reportingby Sneha Kumar and Archishma Iyer in Bengaluru; Editing by Kim Coghill and Varun H K
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.
