01252017Wed
Last update: Wed, 25 Jan 2017 12am

Asia

Markets - FXMM - Asia

South Korean won drops to 9-month low, shares slightly down SEOUL: The South Korean won slumped to a more than nine-month low on Thursday, marking its sixth consecutive session of decline and breaking through the psychological level of 1,200 intraday.The won was quoted at 1,199.1 to the dollar at the conclusion of onshore trade, lowest since March 10, 2016. It closed down 0.4 percent compared to Thursday's close of 1,193.9.The won, along with other Asian currencies, is under pressure from the prospect of higher U.S. rates and jitters about incoming President Donald Trump's future policies.South Korean shares changed course later in the session as foreign investors turned into net sellers of local equities.The Korea Composite Stock Price Index (KOSPI) closed down 0.1 percent at 2,035.73 points.Offshore investors sold a net 50.6 billion won ($42.21 million) worth of KOSPI shares.Copyright Reuters, 2016 ...

Markets - FXMM - Asia

Sri Lankan rupee ends lower on importer dollar demand, capital outflows COLOMBO: The Sri Lankan rupee closed weaker on Wednesday due to dollar demand from importers and capital outflows from government securities, dealers said, as the greenback hovered near 14-year peaks against a basket of major currencies. The US currency has chalked up all its 4.5 percent gains for the year since the Nov. 8 presidential election, as traders have bet that President-elect Donald Trump's administration will go on a growth-boosting tax cut and fiscal spending ...

Markets - FXMM - Asia

Sri Lankan rupee down on importer dollar demand, capital outflows COLOMBO: The Sri Lankan rupee fell on Wednesday due to importer demand for the dollar and capital outflows from government securities as the greenback held near 14-year peaks against a basket of major currencies.The dollar has been strengthening as global yield spreads shifted in its favour, with the U.S. Federal Reserve set to tighten monetary policy.At home, rupee forwards were active, with one-week forwards trading at 150.50/80 per dollar, compared with Tuesday's close of 150.25/50."There ...

Markets - FXMM - Asia

Won, baht hit multi-month lows on worry over Fed rate hike pace SINGAPORE: The South Korean won and the Thai baht hit multi-month lows against the dollar on Wednesday, weighed down by expectations of a faster pace of US interest rate increases after Donald Trump becomes president on Jan. 20.The Thai baht hit a trough of 36.076, falling to levels last seen in January. The won touched 1,196.3 per dollar, its lowest level since March.As the won slipped, a South Korean official in charge of foreign exchange ...

Markets - FXMM - Asia

South Korea won extends slide as dollar stands tall, stocks edge up SEOUL: The South Korean won extended its slide early on Wednesday, capping the fifth session of losses on the back of a relentless dollar rally fuelled by yield-allure as investors bet on US growth and interest rates moving to a higher gear.The won was fetching 1,194.9 as of 0200 GMT, down 0.13 percent compared to Tuesday's close of 1,193.4.The currency remained on the back foot even after a government official in charge of foreign exchange ...

Markets - FXMM - Asia

Dollar holds gains at 14-year peak on Trump trade, yield allure TOKYO: The dollar hovered near a 14-year high against the euro on Wednesday, supported by expectations of U.S. interest rates rising more rapidly during the incoming Trump Administration.In thin trading ahead of year-end holidays, the euro last stood at $1.0413 after slipping below $1.0352 on Tuesday, a level last seen in January 2003.The weak euro helped to push the dollar's trade-weighted index against a basket of six major currencies to touch 103.65, also a 14-year ...

Markets - FXMM - Asia

China's yuan firms on state bank support, weak corporate dollar demand  SHANGHAI: China's yuan firmed on Tuesday as major state-owned banks sold dollars, while weak demand by companies for the US currency also offered a helping hand, traders said.The People's Bank of China set the midpoint rate at 6.9468 per dollar prior to the market opening, weaker than the previous fix of 6.9312."The midpoint was back to normal, and dollar demand by companies was not so strong at current levels, so the market was relatively stable," ...