Asian shares rise after Fed rate cut, China NPC meeting takes centre stage
.
Singapore stocks rise 1.8%
Asian currencies mixed
Philippine stocks heading for third consecutive day of declines
By John Biju and Adwitiya Srivastava
Nov 8 (Reuters) -Most Asian equities advanced on Friday after the U.S. Federal Reserve delivered a widely expected rate cut in a volatile week that saw Donald Trump returning to the White House, with focus now on further stimulus measures from China.
China's week-long National People's Congress Standing Committee meeting concludes later in the day with investors expecting further stimulus measures which could provide support for regional markets.
More stimulus will support emerging market stocks and currencies such that it is fair to call the worst for emerging market assets is over, Poon Panichpibool, a markets strategist at Krung Thai Bank, said.
"But it remains to be seen how big the upsides would be for EM assets amid Trump 2.0."
Trump's victory in the U.S. presidential election has stoked fears that his threat to impose tariffs, especially those on China, would impact most emerging market economies which rely on China as their top trading partner.
Of particular concern for the Philippines, where remittances support a significant portion of growth, is vice presidential candidate JD Vance's proposal for a 10% tax on remittances.
The Philippine peso PHP= declined 0.3%, while equities .PSI retreated 0.4% heading for a third straight day of declines. Shares were on track for the worst week since mid-June.
Most other emerging market equities advanced during the day and for the week, brushing off a fall during the U.S. election, after the U.S. Federal Reserve delivered a rate cut on Thursday.
The Fed signalled a cautious and patient approach to subsequent easing, although analysts still widely believe another rate cut is still on the table in December.
"If the Fed continues to cut rates.... I would expect the EM FXs to regain some strength with some weakness in the U.S. dollar. In this scenario, EM stocks could gain some ground as well," Panichpibool said.
Shares in Indonesia .JKSE jumped 0.9%, while those in Taiwan .TWII climbed 0.6%. Taiwan shares were on track for their best week since mid August.
Stocks in Singapore .STI advanced 1.8% to hit their highest level since November 2007, led by gains in the city-state's top banks following upbeat results.
Shares of the OCBC OCBC.SI, UOB UOBH.SI and DBS DBSM.SI all hit record highs.
Currencies in the region were mixed with the Indonesian rupiah IDR= and the Malaysian ringgit MYR= climbing 0.3% and 0.4%, respectively while the Thai baht THB=TH retreated 0.4%.
HIGHLIGHTS:
** China October bank lending seen declining despite policy measures
** Thailand to pursue new policies to boost and protect digital economy
** With Trump win, India open to freeing up market access for U.S. firms, sources say
Asian stocks and currencies as at 0643 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.13 | -7.64 | .N225 | 0.24% | 18.59% |
China | CNY=CFXS | -0.05 | -0.72 | .SSEC | -0.58 | 15.99 |
India | INR=IN | +0.00 | -1.38 | .NSEI | -0.35 | 10.96 |
Indonesia | IDR= | +0.25 | -1.88 | .JKSE | 0.94 | 0.53 |
Malaysia | MYR= | +0.41 | +4.75 | .KLSE | 0.10 | 11.71 |
Philippines | PHP= | -0.31 | -5.09 | .PSI | -0.43 | 8.29 |
S.Korea | KRW=KFTC | -0.03 | -7.10 | .KS11 | -0.14 | -3.55 |
Singapore | SGD= | -0.13 | -0.20 | .STI | 1.80 | 15.41 |
Taiwan | TWD=TP | +0.35 | -4.33 | .TWII | 0.62 | 31.36 |
Thailand | THB=TH | -0.38 | +0.31 | .SETI | -0.65 | 3.13 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by John Biju in Bengaluru; Editing by Michael Perry, Rashmi Aich and Mrigank Dhaniwala
Actifs liés
Dernières actualités
Avertissement : Les entités de XM Group proposent à notre plateforme de trading en ligne un service d'exécution uniquement, autorisant une personne à consulter et/ou à utiliser le contenu disponible sur ou via le site internet, qui n'a pas pour but de modifier ou d'élargir cette situation. De tels accès et utilisation sont toujours soumis aux : (i) Conditions générales ; (ii) Avertissements sur les risques et (iii) Avertissement complet. Un tel contenu n'est par conséquent fourni que pour information générale. En particulier, sachez que les contenus de notre plateforme de trading en ligne ne sont ni une sollicitation ni une offre de participation à toute transaction sur les marchés financiers. Le trading sur les marchés financiers implique un niveau significatif de risques pour votre capital.
Tout le matériel publié dans notre Centre de trading en ligne est destiné à des fins de formation / d'information uniquement et ne contient pas – et ne doit pas être considéré comme contenant – des conseils et recommandations en matière de finance, de fiscalité des investissements ou de trading, ou un enregistrement de nos prix de trading ou une offre, une sollicitation, une transaction à propos de tout instrument financier ou bien des promotions financières non sollicitées à votre égard.
Tout contenu tiers, de même que le contenu préparé par XM, tels que les opinions, actualités, études, analyses, prix, autres informations ou liens vers des sites tiers contenus sur ce site internet sont fournis "tels quels", comme commentaires généraux sur le marché et ne constituent pas des conseils en investissement. Dans la mesure où tout contenu est considéré comme de la recherche en investissement, vous devez noter et accepter que le contenu n'a pas été conçu ni préparé conformément aux exigences légales visant à promouvoir l'indépendance de la recherche en investissement et, en tant que tel, il serait considéré comme une communication marketing selon les lois et réglementations applicables. Veuillez vous assurer que vous avez lu et compris notre Avis sur la recherche en investissement non indépendante et notre avertissement sur les risques concernant les informations susdites, qui peuvent consultés ici.
