January 24, 2020 / 6:27 AM / a month ago

EM ASIA FX-Most Asian currencies firm, but virus fears cap gains

 (Adds text, updates prices)
    By Rashmi Ashok
    Jan 24 (Reuters) - Most Asian currencies rose slightly on
Friday, although gains were limited by lack of direction from
China and rising death toll and case count from a new
coronavirus.
    Trading volumes were thin, with financial markets in China,
Taiwan and South Korea closed for the Lunar New Year.
    The World Health Organisation (WHO) on Thursday declared the
virus outbreak an emergency for China but stopped short of
declaring it an international concern, offering some comfort to
investors.
    The virus had killed 25 people in China and infected more
than 800 by Thursday. 
    "With several Asian markets seeing a holiday-shortened
trading week ahead, investors will be hoping that the outbreak
doesn't worsen over the coming days," Han Tan, market analyst at
Cyprus-based brokerage FXTM, wrote in a note. 
    "Still, regional markets could see an outsized reaction when
trading resumes, should pent-up concerns be unleashed if the
virus' spread worsens drastically over the near-term."
    The Indonesian rupiah firmed 0.4% against the
dollar, after Bank Indonesia (BI) kept interest rates on hold on
Thursday.
    BI said the country's economic cycle had passed its lowest
point and would now continue to improve, adding that the
rupiah's level remained in line with fundamentals and was
expected to remain stable. 
    The Malaysian ringgit and the Philippine peso
 strengthened 0.3% each. The Singapore dollar
strengthened marginally.
    
    The following table shows rates for Asian currencies against
the dollar at 0544 GMT.
    CURRENCIES VS U.S. DOLLAR

 Currency               Latest bid  Previous day  Pct Move
 Japan yen              109.520     109.48        -0.04
 Sing dlr               1.350       1.3511        +0.10
 Baht                   30.510      30.48         -0.10
 Peso                   50.870      51.02         +0.29
 Rupiah                 13570.000   13625         +0.41
 Rupee                  71.280      71.27         -0.02
 Ringgit                4.063       4.0735        +0.26
                                                  
 Change so far in 2020                            
 Currency               Latest bid  End 2019      Pct Move
 Japan yen              109.520     108.61        -0.83
 Sing dlr               1.350       1.3444        -0.39
 Taiwan dlr             30.006      30.106        +0.33
 Korean won             1168.700    1156.40       -1.05
 Baht                   30.510      29.91         -1.97
 Peso                   50.870      50.65         -0.43
 Rupiah                 13570.000   13880         +2.28
 Rupee                  71.280      71.38         +0.14
 Ringgit                4.063       4.0890        +0.64
 Yuan                   6.937       6.9632        +0.38
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu
Sahu)
  
 
 
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below