Asian stocks gain, currencies dip; focus on multiple cenbanks' rate verdict
Currencies tepid against stronger dollar
South Korea, Shanghai shares rise over 1%
Singapore keeps monetary policy steady
Rate decisions from Indonesia, Thailand, Philippines this week
.
By Himanshi Akhand
Oct 14 (Reuters) -Asian stock markets rose and currencies lost momentum on Monday as investors assessed China's underwhelming stimulus steps, while focus was on monetary policy decisions by central banks in Indonesia, Thailand and the Philippines later this week.
China said on Saturday it will "significantly increase" debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package.
"The lack of any announcement on a concrete fiscal stimulus headline figure or major consumption measures is continuing to test investors' patience," Maybank analysts said in a note.
The yuan CNY=CFXS was trading 0.2% lower, while stocks in Shanghai .SSEC rallied 1.7%.
The South Korean won KRW=KFTC inched 0.4% lower while the Malaysian ringgit MYR= dipped 0.2% as the U.S. dollar extended gains. FRX/
In Singapore, stocks .STI added 0.5% while the local dollar SGD= edged lower after the city-state's central bank left its monetary settings unchanged, after data showed the economy perked up in the third quarter.
Focus shifts to rate decisions in Indonesia, Thailand and the Philippines, all due on Wednesday, with analysts expecting the Bangko Sentral ng Pilipinas to deliver a 25-basis-point reduction to support economic growth, according to a Reuters poll.
The BSP started its easing cycle in August, and data indicating slower annual inflation in September has given the central bank room to cut rates further.
Analysts at Barclays expect Bank Indonesia (BI) to pause its rate-cutting cycle and stay on hold, noting recent rupiah stability.
BI had surprised markets with a 25 bps cut last month just ahead of the Federal Reserve's 50 bps cut.
The rupiah had been under pressure earlier this year in response to flitting risk appetite in global markets, although it has since recouped some of the losses and is down just 1% so far this year.
"We expect BI to emphasise the need to defend external stability, while focusing on the USD/IDR level. That said, we acknowledge that this is a close call, and continue to see risk of BI pushing ahead with a 25 bp cut – especially if USD/IDR continues to fall or trade data surprises," they wrote.
The rupiah IDR= was last slightly up at 15,560 per dollar and the peso PHP= inched 0.3% lower.
Regional equities were broadly higher, tracking Wall Street gains from last week. Stocks in Seoul .KS11, Jakarta .JKSE and Manila .PSI rose 0.5% to 1%.
Markets in Thailand were closed for a public holiday.
HIGHLIGHTS:
** China launches war games around Taiwan, drawing anger in Taipei, concerns from Washington
** Indonesia's Prabowo considers corporate tax cut, report says
Asian stocks and currencies at 0648 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.05 | -5.46 | .N225 | - | 18.35 |
China | CNY=CFXS | -0.18 | +0.26 | .SSEC | 1.67 | 9.97 |
India | INR=IN | -0.01 | -1.02 | .NSEI | 0.71 | 15.69 |
Indonesia | IDR= | +0.10 | -1.06 | .JKSE | 0.51 | 3.94 |
Malaysia | MYR= | -0.19 | +6.94 | .KLSE | 0.12 | 12.43 |
Philippines | PHP= | -0.30 | -3.49 | .PSI | 0.69 | 14.11 |
S.Korea | KRW=KFTC | -0.34 | -5.01 | .KS11 | 1.02 | -1.20 |
Singapore | SGD= | -0.08 | +1.02 | .STI | 0.53 | 10.88 |
Taiwan | TWD=TP | -0.01 | -4.51 | .TWII | 0.32 | 28.13 |
Thailand | THB=TH | - | +3.09 | .SETI | - | 3.83 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Himanshi Akhand in Bengaluru; Editing by Christopher Cushing and Sherry Jacob-Phillips
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.