11:28am IST
Dec 11 Resources and banking stocks helped
Australian equities end higher amid low-volume trade on
Wednesday, while takeover buzz propelled travel site Webjet
Ltd's shares to the top of the benchmark.
06 Dec 2019
(Adds text, updates prices)
By Devika Syamnath
Dec 6 Most emerging Asian currencies held tight
ranges on Friday after a week of back-and-forth headlines on
trade, which kept investors firmly on the sidelines.
Investors held big bets in check pending firmer signs on
whether Washington and Beijing could reach an interim deal by
Dec. 15, when a new round of U.S. tariffs on Chinese goods is
set to take effect.
"The operative word is uncertainty, and we do expect further
jitters next week, with investors likely taking out insurance
ahead of the Dec. 15 tariff deadline," OCBC said in a note.
China's yuan slipped slightly lower and was set
to notch a small weekly loss, while the Indonesian rupiah
and Malaysian ringgit were both 0.2% higher.
While mixed U.S. economic indicators weighed on the dollar,
offering a small measure of support for Asian currencies, focus
is now on payrolls data, which could provide a clearer read on
the health of the world's largest economy.
The Philippine peso inched higher, extending gains
into a third session after data released earlier this week
showed inflation quickening, raising expectations there may be
no more rate cuts this year.
Thailand's baht declined 0.2% a day after trading
was closed for a public holiday. The currency extended losses
into a fourth straight session and was set to close the week
lower.
Nath Wongsaroj, a corporate treasury trader at Mizuho Bank,
said a central bank deputy governor's comments on Wednesday
further pressured the currency.
Market sentiment has changed and foreign investors now think
the baht, Asia's top performing currency this year, may not rise
much further given its strength is out of step with economic
fundamentals, Mathee Supapongse said on Wednesday.
The following table shows rates for Asian currencies against
the dollar at 0524 GMT.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0524 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.660 108.75 +0.08
Sing dlr 1.360 1.3606 +0.01
Taiwan dlr 30.488 30.500 +0.04
Korean won 1191.200 1190.2 -0.08
Baht 30.350 30.295 -0.18
Peso 50.760 50.79 +0.06
Rupiah 14030.000 14060 +0.21
Rupee 71.283 71.28 -0.00
Ringgit 4.161 4.168 +0.17
Yuan 7.048 7.0444 -0.05
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.660 109.56 +0.83
Sing dlr 1.360 1.3627 +0.17
Taiwan dlr 30.488 30.733 +0.80
Korean won 1191.200 1115.70 -6.34
Baht 30.350 32.55 +7.25
Peso 50.760 52.47 +3.37
Rupiah 14030.000 14375 +2.46
Rupee 71.283 69.77 -2.12
Ringgit 4.161 4.1300 -0.75
Yuan 7.048 6.8730 -2.48
(Reporting by Devika Syamnath in Bengaluru)
05 Dec 2019
* S. Korean won breaks 7-day slump to lead gains
* Peso may receive some near-term support as inflation
quickens in
Nov. - ING
* China Nov. exports seen up slightly, data due on Sunday
(Adds text, updates prices)
By Devika Syamnath
Dec 5 Most Asian currencies notched only small
gains on Thursday as the run of conflicting headlines about
U.S.-China trade talks dulled emerging market appetite for risky
bets.
U.S. President Donald Trump said talks with China were going
"very well," having only warned a day earlier that a trade deal
might not be reached until after the 2020 presidential
election.
"There's still underlying caution and a lack of clarity to
reverse any trade with conviction," said Vishnu Varathan, a
senior economist at Mizuho Bank. "(Investors) are biding their
time until the middle of December when you get the best-case
scenario of an interim deal or the can gets kicked down to next
year."
Trump has less than two weeks to make a call before a new
round of U.S. tariffs on Chinese goods comes into effect, with
his decision set to chart the course of a trade war that has
dragged on for 17 months.
South Korea's won tacked on 0.3% and was set to
lead gains, having lost more than 1% over the previous seven
straight sessions.
The Philippine peso also strengthened 0.3%. The
Southeast Asian economy's inflation quickened for the first time
in six months in November, compounding expectations that the
central bank would hold interest rates at its next meeting on
Dec. 12.
"The Peso may receive some near-term support as faster
inflation means that a BSP (Bangko Sentral ng Pilipinas) rate
cut is off the table for now," ING said in a note.
China's yuan was slightly weaker after a
boomerang move in the previous session when it fell to a
5-1/2-week low before recovering all of its intraday losses on
Trump's upbeat comments.
China's exports data, due on Sunday, is expected to have
risen for the first time in four months in November, a Reuters
poll showed, though the trade war-instigated slack in demand
suggests that a sure-footed turnaround in shipments is some way
off.
Thailand markets were closed for a public holiday.
The following table shows rates for Asian currencies against
the dollar at 0602 GMT.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0602 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.790 108.85 +0.06
Sing dlr 1.362 1.3630 +0.07
Taiwan dlr 30.483 30.508 +0.08
Korean won 1190.800 1194.3 +0.29
Peso 50.820 50.96 +0.28
Rupiah 14075.000 14100 +0.18
Rupee 71.500 71.53 +0.03
Ringgit 4.171 4.175 +0.10
Yuan 7.053 7.0508 -0.03
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.790 109.56 +0.71
Sing dlr 1.362 1.3627 +0.05
Taiwan dlr 30.483 30.733 +0.82
Korean won 1190.800 1115.70 -6.31
Baht 30.295 32.55 +7.44
Peso 50.820 52.47 +3.25
Rupiah 14075.000 14375 +2.13
Rupee 71.500 69.77 -2.42
Ringgit 4.171 4.1300 -0.98
Yuan 7.053 6.8730 -2.55
(Reporting by Devika Syamnath in Bengaluru; Editing by Sam
Holmes)
04 Dec 2019
* Korean won extends losses to seventh straight session
* Yuan, ringgit and rupee fall despite healthy economic
prints
* Yuan touches over 1-month low
(Adds text, updates prices)
By Devika Syamnath
Dec 4 Most Asian currencies weakened on
Wednesday, with the South Korean won falling the most, as
comments from U.S. President Donald Trump dashed bets of a
speedy resolution to Washington's drawn-out trade war with
Beijing.
Trump said a trade deal with China might have to wait until
after the 2020 presidential election, knocking hopes that a
"phase 1" deal would be signed by Dec. 15, when additional
tariffs on Chinese goods are set to take effect.
"Investors have become more desensitized to trade headlines
of late but given the extent to which trade optimism was running
towards the top end, the latest trade headlines are extremely
bitter pills for the market to swallow," Stephen Innes, Asia
Pacific market strategist at AxiTrader, said in a note.
China, which stands to lose the most from a longer trade
war, saw its currency weaken for a third session and
touch a more than one-month low at one point in the session.
Leading the declines in the region, the South Korean won
fell 0.6% and was set for a seventh straight session
of losses.
The currency, which is already sensitive to trade headlines,
has seen risk sentiment sour further after neighbor North Korea
earlier this week accused the U.S. of trying to drag out
denuclearisation talks.
In contrast to the barrage of negative trade headlines, the
day's busy economic roster showed China service data hitting a
7-month high, Malaysian exports drop slower than expected and
India's dominant services sector rebounding to growth.
"Economic green shoots are a budding theme to end 2019 and
may kickstart 2020 on a positive tone," OCBC said in a note.
However, the positive prints did little to stave off caution
towards Asian currencies, with the Malaysian ringgit and
the Indian rupee down 0.1%, each.
THE PHILIPPINE PESO
The Philippine peso was on firmer footing than its
peers, slightly higher ahead of annual inflation data on
Thursday.
Inflation likely quickened for the first time in six months
in November but the expected number will be below the central
bank's comfort range for the year, a Reuters poll showed.
The expected bounce led ING to posit in a note that the
country's central bank would hold rates at its Dec. 12 meeting.
"The peso may benefit from a rebound in inflation and the
possible BSP pause as the dovish Governor closes shop for the
year," ING said in the note.
The following table shows rates for Asian currencies against
the dollar at 0545 GMT.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0545 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.600 108.62 +0.02
Sing dlr 1.364 1.3636 -0.06
Taiwan dlr 30.501 30.507 +0.02
Korean won 1194.700 1187.2 -0.63
Baht 30.280 30.271 -0.03
Peso 51.070 51.08 +0.02
Rupiah 14120.000 14100 -0.14
Rupee 71.730 71.67 -0.09
Ringgit 4.179 4.173 -0.14
Yuan 7.068 7.0610 -0.10
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.600 109.56 +0.88
Sing dlr 1.364 1.3627 -0.12
Taiwan dlr 30.501 30.733 +0.76
Korean won 1194.700 1115.70 -6.61
Baht 30.280 32.55 +7.50
Peso 51.070 52.47 +2.74
Rupiah 14120.000 14375 +1.81
Rupee 71.730 69.77 -2.73
Ringgit 4.179 4.1300 -1.17
Yuan 7.068 6.8730 -2.76
(Reporting by Devika Syamnath in Bengaluru; Editing by Rashmi
Aich)
03 Dec 2019
(Adds text, updates prices)
By Devika Syamnath
Dec 3 Most Asian currencies were unchanged on
Tuesday, as gains against a weaker dollar were offset by
concerns about the United States sparking off a trade war with
Brazil and Argentina, amid an ongoing dispute with China.
U.S. President Donald Trump on Monday said he would impose
tariffs on steel and aluminium imports from Brazil and
Argentina, taking the trade war to new pastures even as the
United States looks to sign a trade deal with China.
China's yuan weakened slightly from its previous
close of 7.0409 despite a subdued dollar hurt by
unexpected decline in U.S. construction spending.
"The weaker DXY has not translated into broad gains for
Asian currencies, considering the risk-off tone in the markets
triggered by President Trump's latest tariff tantrum," Han Tan,
market analyst at FXTM said in a note.
Investors remain focussed on U.S.-China trade talks and "are
expected to hold back from making large moves in the interim,
unless signaled otherwise, amid hopes that a limited trade deal
remains a likely outcome," the FXTM note added.
Less than two weeks remain before President Trump has to
decide whether to impose an additional 15% tariff on about $156
billion worth of Chinese products.
Washington's latest tariff announcement against Brazil and
Argentina has dampened prospects for the so-called "phase one"
trade deal with Beijing, which is already on tenterhooks thanks
to U.S. legislation backing protesters in Hong Kong.
The South Korean won was set to be the worst
regional performer for the day and declined 0.3%.
Tuesday marks the sixth consecutive session of falls for the
won, which is especially sensitive to trade headlines due to
South Korea's dependence on electronic exports.
Singapore manufacturing data, which is expected later in the
day, dotted an otherwise light data calendar for the region. The
Singapore dollar traded 0.1% higher.
The Malaysian ringgit strengthened 0.2% ahead of
trade data expected on Dec. 4. The country's exports likely fell
for a third straight month in October, a Reuters poll showed,
but trade surplus is expected to expand.
The following table shows rates for Asian currencies against
the dollar at 0602 GMT.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0602 GMT
Currency Latest bid Previous day Pct Move
Japan yen 109.170 108.98 -0.17
Sing dlr 1.365 1.3657 +0.08
Taiwan dlr 30.495 30.509 +0.05
Korean won 1186.800 1183.1 -0.31
Baht 30.270 30.27 +0.00
Peso 51.050 51.04 -0.02
Rupiah 14120.000 14120 +0.00
Rupee 71.600 71.65 +0.07
Ringgit 4.172 4.178 +0.16
Yuan 7.043 7.0409 -0.02
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 109.170 109.56 +0.36
Sing dlr 1.365 1.3627 -0.14
Taiwan dlr 30.495 30.733 +0.78
Korean won 1186.800 1115.70 -5.99
Baht 30.270 32.55 +7.53
Peso 51.050 52.47 +2.78
Rupiah 14120.000 14375 +1.81
Rupee 71.600 69.77 -2.56
Ringgit 4.172 4.1300 -0.99
Yuan 7.043 6.8730 -2.41
(Reporting by Devika Syamnath in Bengaluru; Editing by Rashmi
Aich)
28 Oct 2019
Asia-focused insurer AIA Group Ltd posted its smallest ever quarterly growth in new business value, as anti-government protests in Hong Kong hit sales of insurance products to mainland Chinese visitors.
28 Oct 2019
* HK business posts double-digit drop on fewer mainland
visitors
21 Oct 2019
Australia's Treasury Wine Estates Ltd (TWE) on Monday said "transformative" Chief Executive Michael Clarke would retire in early fiscal 2021, a surprise move which sent shares of the world's biggest standalone winemaker down more than 12%.
21 Oct 2019
* For a graphic on TWE's profit growth - https://tmsnrt.rs/2qwa6Qb
18 Oct 2019
Oct 18 Australian shares dropped on Friday as a
weaker U.S. dollar dented blue-chip healthcare firms that have
offshore operations, while fears of a slide into recession
continued to dog sentiment amid scepticism over the Brexit deal
and Sino-U.S. talks.