* ECB tapering woes stay; most EM Asia bond prices down
* Strong U.S. non-farm payrolls may add to Fed hike views
* Ringgit fails to benefit much from higher oil prices
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, Oct 6 Most emerging Asian currencies
pulled back on Thursday as traders took some money off the table
as they wait on key U.S. jobs data for clues on when the Federal
Reserve might raise interest rates.
The South Korean won ticked up slightly,
outperforming regional peers, on demand from exporters for
Asian equities rose on solid U.S. economic data and
overnight gains in crude prices. Oil prices on Wednesday rose
about 2 percent with Brent crude hitting $52.09 a
barrel, its highest since June 10.
Growing optimism on the world's top economy could encourage
the Fed to raise interest rates in December, with some top U.S.
central bank officials already backing a tightening.
Investors also grew wary of possible tapering of stimulus by
the European Central Bank as such a move could reduce global
liquidity, which has been supporting Asian currencies and bonds.
Most regional government bond prices slumped further.
"With crude essentially back at the 50 handle and defusing
somewhat global stagflation/deflation concerns, any hint of any
taper... from a major central bank will be expected to catalyse
a potential collision with the strong dollar narrative,
resulting in heightened volatility ahead," said Emmanuel Ng,
foreign exchange strategist at OCBC Bank, in a note.
U.S. employers are predicted to have added 175,000 jobs last
month, according to the median forecast of economists polled by
Reuters. The data is due on Friday and a solid figure could add
to expectations of a Fed rate hike before year-end.
The country's service sector activity recovered sharply in
September from six-year low hit in August, the Institute of
Supply Management (ISM) survey showed on Wednesday.
Chicago Federal Reserve Bank President Charles Evans said on
Wednesday he would be "fine" with raising interest rates by year
end if economic data continued to come in firm.
The won found more support as corporate demand prompted
traders and some offshore funds to cut dollar holdings, although
it was off session highs on caution ahead of the U.S. jobs data.
Seoul stocks were supported by market heavyweight
Samsung Electronics hitting a record high.
Samsung said on Thursday it will carefully review proposals
made by U.S. hedge fund Elliott Management for restructuring and
a special dividend.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0430 GMT
Currency Latest bid Previous day Pct Move
Japan yen 103.44 103.50 +0.06
Sing dlr 1.3702 1.3702 +0.00
Taiwan dlr 31.374 31.371 -0.01
Korean won 1110.77 1113.70 +0.26
Baht 34.81 34.81 +0.01
Peso 48.240 48.285 +0.09
Rupiah 12987 12995 +0.06
Rupee 66.59 66.50 -0.14
Ringgit 4.1310 4.1350 +0.10
*Yuan 6.6745 6.6745 0.00
Change so far in 2016
Currency Latest bid End prev year Pct Move
Japan yen 103.44 120.30 +16.30
Sing dlr 1.3702 1.4177 +3.47
Taiwan dlr 31.374 33.066 +5.39
Korean won 1110.77 1172.50 +5.56
Baht 34.81 36.00 +3.43
Peso 48.24 47.06 -2.45
Rupiah 12987 13785 +6.14
Rupee 66.59 66.15 -0.66
Ringgit 4.1310 4.2935 +3.93
Yuan 6.6745 6.4936 -2.71
* Chinese financial markets are closed for holidays this week.
(Reporting by Jongwoo Cheon; Editing by Shri Navaratnam)