November 12, 2019 / 6:13 AM / a month ago

EM ASIA FX-Asian currencies in narrow ranges as trade risks linger

    * Singapore dollar flat; retail sales decline for 8th month 
    * Bank Indonesia says will remain in market to keep rupiah
stable
    * Malaysia cenbank revises repo guidelines to boost
liquidity

 (Adds text, updates prices)
    By Niyati Shetty
    Nov 12 (Reuters) - Most Asian currencies were rangebound on
Tuesday, as investors took to the sidelines awaiting further
clarity on an interim trade deal between the United States and
China. 
    Markets were cautious ahead of a speech by U.S. President
Donald Trump to the Economic Club of New York later in the day
for any new word on the Sino-U.S. "phase one" trade pact. 
    The optimism around a possible resolution to the protracted
trade dispute faded a bit after Trump said on the weekend there
had been incorrect reporting about U.S. willingness to lift
tariffs on Chinese goods.
   "With trade negotiations seemingly in a lull for the past few
days, lacking concrete details or even a signing date, financial
markets have moved into a cautious "wait and see" mode," said
Jeffrey Halley, senior market analyst for Asia Pacific at OANDA.
    The Chinese yuan edged up to 7.004 against the
dollar. Data on Monday showed new bank loans in China fell more
than expected to the lowest in 22 months in October, but the
drop was likely due to seasonal factors.   
    Bank Indonesia (BI) on Monday said the country's current
economic data still allowed for an accommodative monetary
policy, adding that the central bank will remain in the market
to keep the rupiah stable.
    In October, the central bank cut its benchmark interest rate
for the fourth time in four months, bringing the rate to 5.00%.
BI is due to hold its monthly policy meet next week.
    The rupiah was slightly firmer on Tuesday. 
    The Singapore dollar was flat even as data showed
retail sales in the country fell 2.2% in September from a year
earlier, the eighth straight month of decline.  
    Meanwhile, the Malaysian central bank extended the maximum
tenor of repurchase agreements, or repos, to five years, as it
looks to boost liquidity and avoid a downgrade by global index
provider FTSE Russell. 
    FTSE Russel had placed Malaysian government bonds on its
watchlist in April, with Morgan Stanley anticipating outflows of
almost $8 billion if the instruments were downgraded.

    The South Korean won was up 0.2%, while the
Philippine peso inched lower. The Thai baht and
the Taiwan dollar were little changed. 
    The Indian rupee was not trading as financial
markets in the country were closed for a public holiday. 

    The following table shows rates for Asian currencies against
the dollar at 0518 GMT.
    CURRENCIES VS U.S. DOLLAR
 Currency               Latest bid  Previous day  Pct Move
 Japan yen              109.130     109.04        -0.08
 Sing dlr               1.360       1.3606        +0.03
 Taiwan dlr             30.420      30.435        +0.05
 Korean won             1164.100    1166.8        +0.23
 Baht                   30.340      30.33         -0.03
 Peso                   50.850      50.79         -0.12
 Rupiah                 14053.000   14058         +0.04
 Ringgit                4.142       4.1421        +0.00
 Yuan                   7.003       7.0105        +0.11
                                                  
 Change so far in 2019                            
 Currency               Latest bid  End 2018      Pct Move
 Japan yen              109.130     109.56        +0.39
 Sing dlr               1.360       1.3627        +0.18
 Taiwan dlr             30.420      30.733        +1.03
 Korean won             1164.100    1115.70       -4.16
 Baht                   30.340      32.55         +7.28
 Peso                   50.850      52.47         +3.19
 Rupiah                 14053.000   14375         +2.29
 Rupee                  71.455      69.77         -2.36
 Ringgit                4.142       4.1300        -0.29
 Yuan                   7.003       6.8730        -1.85
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Jacqueline
Wong)
  
 
 
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