Asian equities rebound ahead of key cenbank meetings
BOJ, Fed meetings in focus
Ringgit at highest since early January
Stocks rebound in S.Korea, Taiwan
Inflation data awaited from Indonesia, S.Korea
Updates at 0625 GMT
By Shivangi Lahiri
July 29 (Reuters) -Asian equities recovered on Monday, heading into a week packed with key central bank policy decisions and domestic economic data, as traders looked to gauge their sentiment with risky emerging market assets in the near term.
MSCI's gauge of equities in emerging Asia .MIMS00000PUS and a broader index of stocks in Asia excluding Japan .MIAPJ0000PUS advanced 1% each, reversing declines from a sharp sell-off last week when investors rotated out of tech stocks.
Regional currencies still traded in a tight range, except for the Malaysian ringgit MYR= and the South Korean won KRW=KFTC which gained modestly, taking the former to its highest since January.
Globally, investors now await Wednesday's monetary policy meetings of the Bank of Japan (BOJ) and the U.S. Federal Reserve.
While the BOJ's stance on interest rate and its bond-buying program continues to be uncertain, traders will be scouring statements from the Fed in order to validate their bets of a September rate cut.
"If the FOMC does pivot more dovish, that should set the scene for further dollar declines" and lend support to Asian currencies, said Khoon Goh, Asia research head at ANZ.
A Fed rate cut would widen yield differentials between U.S. and Asian bonds, making emerging markets attractive for investors. CME's FedWatch tool shows a 100% chance of a rate cut in September.
The Malaysian ringgit MYR= advanced 0.5% to 4.630 a dollar, its highest since early January, while the benchmark index .KLSE added 0.8%. Malaysia's stocks and currency have outperformed regional peers this year.
Malaysia has been a beneficiary of political stability, favourable policies, attractive valuations in companies, and strong economic growth, making it a favoured spot in the region for investors to park their money, said Sudip Biswas, deputy chief investment officer at Tokio Marine Asset Management.
A stable ringgit and a trend for global companies to diversify manufacturing setups beyond China are also offering further tailwinds, Biswas added.
Elsewhere, shares in Seoul .KS11 and in Taipei .TWII advanced more than 1.5% each, after last week's massive tech rout triggered by investors ditching megacap stocks.
In Japan, the yen JPY= strengthened as much as 0.4% while the Nikkei share average .N225 rebounded from Friday's three-month low. .T
A Reuters poll of 37 economists showed the BOJ is likely to skip rate hikes this month but prioritise scaling back bond-buying.
A more hawkish than expected BOJ would spell further strength in the yen, which would spill into Asian currencies, Goh added.
Inflation data from Indonesia and South Korea will also be on investors' radar this week.
HIGHLIGHTS:
** BOJ's victory lap on deflation paves way for rate-hike cycle
** South Korea prepares support for e-commerce vendors hit by payment delays
** POLL-Brazil central bank to stand pat for second time on July 31, economists say
** Venezuela's Maduro wins third term, electoral authority says
** Markets in Thailand closed for a public holiday
Asia stock indexes and currencies at 0625 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.26 | -8.00 | .N225 | 2.13 | 15.56 |
China | CNY=CFXS | -0.06 | -2.16 | .SSEC | -0.03 | -2.85 |
India | INR=IN | 0.00 | -0.62 | .NSEI | 0.60 | 14.97 |
Indonesia | IDR= | 0.00 | -5.47 | .JKSE | 0.24 | 0.45 |
Malaysia | MYR= | +0.58 | -0.82 | .KLSE | 0.74 | 11.69 |
Philippines | PHP= | -0.07 | -5.14 | .PSI | 0.05 | 4.33 |
S.Korea | KRW=KFTC | +0.16 | -6.77 | .KS11 | 1.30 | 4.23 |
Singapore | SGD= | +0.04 | -1.66 | .STI | 0.72 | 6.51 |
Taiwan | TWD=TP | +0.03 | -6.36 | .TWII | 0.20 | 23.61 |
Thailand | THB=TH | - | -4.86 | .SETI | - | -7.67 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Shivangi Lahiri and Sameer Manekar in Bengaluru; Editing by Varun H K
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
