Asian shares join global market rout as US data signals weak outlook

Reuters

Asian shares join global market rout as US data signals weak outlook

2024 8월 2 일, 오전 7:39 GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>EMERGING MARKETS-Asian shares join global market rout as US data signals weak outlook</title></head><body>

Malaysian ringgit rises more than 1%

Taiwan shares end over 4% lower

South Korean inflation rate beats consensus

Updates at 0650 GMT

By Archishma Iyer

Aug 2 (Reuters) -Most emerging Asian stock markets tumbled on Friday, with South Korea and Taiwan leading the decline, as U.S. slowdown fears soured risk appetite globally.

Investor sentiment was spooked following a weak U.S. manufacturing report, even as the Federal Reserve signalled this week a potential end to its restrictive policy at its September meeting.

The MSCI International All Asia Pacific Index .MIAP00000PUS, including Japan, slumped more than 3.5%, its worst day in more than three years.

The tech-heavy bourses in Taipei .TWII and Seoul .KS11 were among the worst hit with a slump of 4.4% and 3.7%, and also marked their third and fourth weekly losses, respectively.

"Sentiment has been worsening despite the Fed's looming rate cut. Investors were more sensitive to the recession risk and started to take profit from the U.S. rally," said Ken Cheung Kin Tai, chief Asian FX strategist, Mizuho Bank.

Tokyo's Nikkei .N225 took a significant beating, ending nearly 6% lower amid a stronger yen, while shares in Bangkok .SETI, Singapore .STI, Manila .PSI and Kuala Lumpur .KLSE slumped in a range of 0.8% to 2%.

The Malaysian ringgit MYR= was one of the outliers. The ringgit advanced 1.5% to a one-year high and traded at 4.500 per dollar, while the Thai baht THB=TH edged 0.5% higher.

The ringgit is the only positively performing emerging Asian currency with a 1.8% gain on a year-to-date basis.

"We do sense there is more positive idiosyncratic optimism towards the ringgit amid the government reforms, better-than-expected growth and more foreign investor interest," analysts from Maybank wrote in a client note.

Among other Asian currencies, the Taiwanese dollar TWD=TP slipped 0.3%, while the Indian rupee INR=IN, Indonesian rupiah IDR= and the Singapore dollar SGD= traded between flat and 0.2% higher.

South Korea's won KRW=KFTC recouped most of early losses to close marginally lower. The country's inflation ticked higher for July, slightly beyond market expectations due to supply-side pressure, casting doubt on whether the central bank will be in a position to cut interest rates in the near term.

"This (rise in inflation) may add more uncertainties over the Bank of Korea's rate cut timing but should not change the easing direction," Mizuho Bank's Kin Tai said.

HIGHLIGHTS:

** Indonesian benchmark 10-year bond yield steady at 6.835%

** China central bank adviser calls for greater stimulus, inflation goal

** Indonesian financial regulators assess geopolitical risk, impact to economy

ASIAN CURRENCIES AND STOCKS AT 0650 GMT
COUNTRY	FX RIC	FX DAILY %	FX YTD %	INDEX	STOCKS DAILY %	STOCKS YTD %
Japan	JPY=	+0.21	-5.36	.N225	-5.81	7.31
China	CNY=CFXS	+0.50	-1.56	.SSEC	-0.83	-2.25
India	INR=IN	-0.01	-0.62	.NSEI	-0.90	14.05
Indonesia	IDR=	+0.17	-4.99	.JKSE	-0.20	0.53
Malaysia	MYR=	+1.26	+1.77	.KLSE	-0.72	10.86
Philippines	PHP=	+0.21	-4.73	.PSI	-1.66	2.06
S.Korea	KRW=KFTC	-0.10	-6.07	.KS11	-3.65	0.79
Singapore	SGD=	+0.23	-1.09	.STI	-1.10	4.38
Taiwan	TWD=TP	-0.33	-6.49	.TWII	-4.43	20.68
Thailand	THB=TH	+0.42	-3.53	.SETI	-0.52	-7.06

Reporting by Archishma Iyer in Bengaluru; Editing by Christopher Cushing and Sherry Jacob-Phillips

</body></html>

Asian shares join global market rout as US data signals weak outlook

관련 자산

최신 뉴스

Google-parent Alphabet cuts stake in Crowdstrike

Asia Fuel Oil-Cash premiums extend slide but bunker prices hold

Ugandan shilling strengthens, low dollar demand helps

Fed easing bets ramp up after weak data

Middle East Crude -Benchmarks end the week below $80 a barrel

XM 실시간 채팅