Indonesian rupiah leads Asia FX gains ahead of Powell's speech
...
Indonesia's rupiah up 0.87%; stocks gain 0.8%
Singapore dollar, stocks rise as inflation cools
Traders await Fed Chair's speech later in the day
By Rajasik Mukherjee and Archishma Iyer
Aug 23 (Reuters) -The Indonesian rupiah was the biggest gainer among buoyant emerging Asia currencies on Friday as the dollar dipped ahead of Federal Reserve Chair Jerome Powell's speech, which is expected to give cues on the timing and magnitude of a U.S. rate cut.
The rupiah IDR= ended 0.87% higher, while stocks in Jakarta .JKSE added 0.8%, as Southeast Asia's largest economy shelved planned changes to electoral laws that could have weakened opponents of the outgoing president and his successor.
The market reacted positively to the parliament ditching its plans to revise the laws, said Fakhrul Fulvian, an economist of Trimegah Securities.
Most emerging Asian currencies and stocks rose ahead of Powell's speech at the Jackson Hole symposium, which will be scrutinised for cues on the Fed's monetary policy plans. MKTS/GLOB
While the Fed is expected to all but cut rates in September, the markets are uncertain about the magnitude of the cut. Other global central banks tend to follow the Fed.
"With Fed rate cuts now seeming imminent, Asian currencies have finally snapped back into line with the narrowed yield gap since the start of the month," analysts from Capital Economics wrote in a research note.
Thailand's baht THB=TH gained 0.7% on easing fears of political upheaval following the appointment of Paetongtarn Shinawatra as the country's youngest prime minister.
Earlier this week, better-than-expected second-quarter GDP growth also generated some confidence among investors.
"Looking at (the) macro, the baht is set to benefit from further normalization post-pandemic. GDP growth and current account may remain supported by export demand and tourism recovery," said Jeff Ng, head of Asia Macro Strategy of Sumitomo Mitsui Banking.
The Singapore dollar SGD= gained 0.3%, while stocks .STI traded 0.3% higher, as the city-state posted its lowest core inflation since February 2022.
Among Asian shares, Bangkok's .SETI rose about 0.6%, while Seoul shares .KS11 closed 0.2% lower.
Markets in the Philippines were closed due to a public holiday.
HIGHLIGHTS:
** Japan's core inflation picks up in July, but demand-driven growth below 2%
** Kamala Harris formally accepts Democrats' nomination for president
** High food prices in India threaten overall inflation outlook, say rate panel members
Asian currencies and stocks at 0715 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.49 | -3.08 | .N225 | 0.40 | 14.64 |
China | CNY=CFXS | +0.17 | -0.54 | .SSEC | 0.23 | -4.02 |
India | INR=IN | +0.10 | -0.79 | .NSEI | 0.09 | 14.28 |
Indonesia | IDR= | +0.87 | -0.42 | .JKSE | 0.85 | 3.84 |
Malaysia | MYR= | +0.09 | +4.99 | .KLSE | -0.37 | 12.43 |
Philippines | PHP= | - | -1.79 | .PSI | - | 7.94 |
S.Korea | KRW=KFTC | +0.51 | -3.64 | .KS11 | -0.22 | 1.75 |
Singapore | SGD= | +0.25 | +0.90 | .STI | 0.31 | 4.44 |
Taiwan | TWD=TP | +0.04 | -3.81 | .TWII | 0.04 | 23.58 |
Thailand | THB=TH | +0.67 | -0.34 | .SETI | 0.61 | -4.71 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Rajasik Mukherjee and Archishma Iyer in Bengaluru; Editing by Stephen Coates and Savio D'Souza
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
