Asian currencies dip, stocks mixed ahead of Fed chair's testimony
Indonesia stocks at highest since May 28
Indonesian rupiah falls after four straight sessions of gains
Malaysia and South Korea policy decisions on Thursday
By Ayushman Ojha
July 9 (Reuters) -Most Asian currencies edged lower on Tuesdaywhile regional stocks were mixed as global markets awaited comments from the head of the U.S. central bank to assess prospects of a rate cut in September.
Fed Chair Jerome Powell will appear before Congress later in the day, with investors hoping for dovish comments that will cement their bets that it will start to lower borrowing costs in a few months, giving a fresh leg up to riskier assets and economies.
Despite a softer U.S. dollar, the Indonesian rupiah IDR= was down as much as 0.4% after four consecutive sessions of gains, while the Taiwanese dollar TWD=TP lost 0.2%.
The Thai baht THB=TH inched 0.1% lower, while the Singapore dollar SGD= was largely flat.
The South Korean won KRW=KFTC and the Malaysian ringgit MYR= were largely unchanged. Interest rate decisions from both countries are due on Thursday.
Bank Negara Malaysia bank will keep its key policy rate on hold until at least 2026 as inflation looks set to pick up in the second half of this year, a Reuters poll showed.
Another poll showed that the Bank of Korea will hold rates on Thursday, but was expected to ease in the next quarter.
"Currency weakness will remain the key constraint for these central banks in thinking about cutting interest rates ahead of the Fed," said Lloyd Chan, senior currency analyst at MUFG Bank.
On the other hand, the Philippine central bank has more scope to cut interest rates at its next meeting in August after annual inflation slowed in June, its Governor Eli Remolona said.
The next U.S. inflation report, due on Thursday, could further bolster rate easing expectations. Markets are now pricing in a 80% chance of a cut in September, up from 64% last week. FEDWATCH
Indonesian shares .JKSE rose as much as 0.7% to their highest level since May 28, while Singapore stocks .STI gained 0.4%, still hovering near their record high touched last week.
The rally in Singapore shares is being driven by local bank stocks hitting record highs due to investor optimism about dividend payouts and higher-for-longer interest rates in the U.S. and Singapore, MUFG's Chan added.
Shares in Kuala Lumpur .KLSE gained as much as 0.4%, while Taiwan shares .TWII and Thai stocks .SETI fell 0.3% and 0.2%, respectively, bucking the trend.
Markets are also awaiting China's inflation data on Wednesday and advanced gross domestic product estimates from Singapore on Friday.
HIGHLIGHTS:
** Thailand central bank head says stronger growth needed
** Japan finance minister to monitor discussions at BOJ bond market meeting
Asia stock indexes and currencies at 0455 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.07 | -12.35 | .N225 | 2.08 | 24.40 |
China | CNY=CFXS | -0.06 | -2.40 | .SSEC | -0.01 | -1.77 |
India | INR=IN | +0.00 | -0.34 | .NSEI | 0.16 | 12.10 |
Indonesia | IDR= | -0.11 | -5.37 | .JKSE | 0.50 | 0.20 |
Malaysia | MYR= | -0.04 | -2.53 | .KLSE | 0.34 | 11.13 |
Philippines | PHP= | +0.15 | -5.24 | .PSI | 0.23 | 1.46 |
S.Korea | KRW=KFTC | -0.04 | -6.91 | .KS11 | 0.18 | 7.82 |
Singapore | SGD= | +0.01 | -2.26 | .STI | 0.40 | 5.48 |
Taiwan | TWD=TP | -0.14 | -5.55 | .TWII | -0.32 | 32.74 |
Thailand | THB=TH | -0.10 | -6.20 | .SETI | -0.20 | -6.78 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Ayushman Ojha in Bengaluru; Editing by Kim Coghill
Ativos relacionados
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
