China stocks on a roll after stimulus measures, Asian FX rise
.
China stocks set for best day since Sept 2008
Malaysia ringgit set for blockbuster quarter
Tokyo shares dive after new PM raises concerns
By Shivangi Lahiri and Archishma Iyer
Sept 30 (Reuters) - Chinese shares were poised for their best day in 16 years on Monday, driven by weekend stimulus measures that boosted risk appetite, while the Malaysian ringgit led gains among Asian currencies.
The Shanghai Stock Exchange .SSEC advanced as much as 8.8% to 3,358.58 points, with investors hopeful that the slew of measures would halt the extended economic downturn faced by world's second-biggest economy.
China's markets are closed from Tuesday for a week-long holiday.
The country's central bank said it would tell lenders to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market.
The new stimulus measures offset disappointment from China's slowing manufacturing activity in September.
"A coordinated stimulus blitz suggests that China has reached a 'whatever it takes' moment with economic risks reaching Beijing’s pain threshold," analysts from Bank of Singapore wrote.
Among emerging Asian currencies, the ringgit MYR= rose as much as 0.6% totrade at 4.099 per U.S. dollar, and was poised for its third straight monthly gain. China is the biggest trading partner for most of the region.
The Malaysian currency has had a stellar quarterly run, advancing around 12.9%, making it the best performing currency of the year in emerging Asia, driven by a host of factors such as robust foreign investor inflows, economic growth and political stability.
The Thai baht THB=TH, Taiwan dollar TWD=TP, and the South Korean won KRW=KFTC rose between 0.2% and 0.5%, with them posting monthly gains.
Investors will monitor inflationprints from South Korea, Indonesia and the Philippines during the week, while a key U.S. jobs report will likely determine if the Federal Reserve will deliver another outsized rate cut.
Indonesia and Philippines had already kicked off their rate-cutting cycle, although others such as Malaysia, Singapore and Thailand are unlikely to ease policy through 2025, according to Barclays analysts.
"A relatively more positive growth outlook if China does enjoy a significant rebound could, at the margin, reduce the need for monetary policy easing for some central banks," Barclays analysts wrote.
"This would reinforce our view that EM Asia central banks are unlikely to 'follow' the Fed in cutting big or quick," they added.
Among other Asian shares, Taipei stocks .TWII ended 2.6%, down, withsemiconductor giant TSMC 2330.TW losing 4.3%.
In Tokyo, the Nikkei .N225 slumped 4.8%, as investors awaited policy directions from incoming Prime Minister Shigeru Ishiba, who has been critical of the central bank's policies in the past.
Shares in Seoul .KS11, Manila .PSI and Jakarta .JKSE fell between 1.2% and 2.1%
HIGHLIGHTS:
** Thailand has no limit on number of virtual bank licenses, official says
** Biden approves $567 mln in defense support for Taiwan, White House says
** China property shares jump as major cities ease buying curbs
Asian currencies and stocks at 0650 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.18 | -0.62 | .N225 | -4.80 | 13.31 |
China | CNY=CFXS | -0.03 | +1.21 | .SSEC | 6.76 | 10.80 |
India | INR=IN | -0.10 | -0.69 | .NSEI | -1.05 | 19.20 |
Indonesia | IDR= | -0.11 | +1.70 | .JKSE | -1.19 | 4.57 |
Malaysia | MYR= | +0.41 | +11.81 | .KLSE | -0.35 | 13.73 |
Philippines | PHP= | -0.04 | -1.09 | .PSI | -1.54 | 13.39 |
S.Korea | KRW=KFTC | +0.18 | -1.51 | .KS11 | -2.13 | -2.34 |
Singapore | SGD= | +0.05 | +3.05 | .STI | 0.35 | 10.66 |
Taiwan | TWD=TP | +0.14 | -2.88 | .TWII | -2.62 | 23.95 |
Thailand | THB=TH | +0.58 | +6.13 | .SETI | 0.11 | 2.54 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Shivangi Lahiri and Archishma Iyer in Bengaluru; Editing by Muralikumar Anantharaman and Nivedita Bhattacharjee
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
