05302016Mon
Last update: Mon, 30 May 2016 12am

Asia

Markets - FXMM - Asia

China's yuan eases, market prices in Fed hike prospects  SHANGHAI: The yuan eased against the dollar to hover near its two-month trough on Wednesday, as companies rushed to buy the US currency on increased prospects of a US interest rate hike.The market started to price in rising expectations of the Federal Reserve raising rates as early as June after US inflation, industrial production and housing starts data showed the US economy re-accelerating into the second quarter.The People's Bank of China set the midpoint rate at 6.5216 per dollar prior to market open, only 0.02 percent weaker than the previous fix 6.5200, in response to a little changed dollar overnight.The spot yuan opened at 6.5254 per dollar and was changing hands at 6.5337 at midday, weakening 0.12 percent from the previous close, and 121 pips softer than the midpoint."The dollar will remain strong for sure in the near term," said a trader at a Chinese commercial bank in Shanghai. "My ...

Markets - FXMM - Asia

Dollar rallies on US interest rate hike talk TOKYO: The dollar rallied broadly in Asia on Wednesday as a string of US economic data and bullish commentary from two Federal Reserve policymakers spurred talk of a US interest rate hike.The greenback surged against emerging market currencies as investors ran for cover after overnight news that US industrial production, consumer prices and housing starts all rose in April.The US central bank earlier this year said it would not raise rates again -- after December's ...

Markets - FXMM - Asia

Sri Lankan rupee forwards fall on importer dollar demand COLOMBO: Sri Lankan rupee forwards ended weaker on Monday on dollar demand from importers, but the decline was limited due to moral suasion by the central bank, dealers said.The dollar/rupee forwards, known as spot next, closed at 146.75/85 per dollar, weaker from Friday's close of 146.40/50."There was importer (dollar) demand," a currency dealer said, asking not to be named.The spot next, which acts as a proxy for the spot currency, indicates the exchange rate for ...

Markets - FXMM - Asia

China commercial banks sell net $23.7bn of forex in April BEIJING: China's commercial banks sold a net $23.7 billion of foreign exchange in April, compared with a net sale of $36.4 billion in March, the foreign exchange regulator said on Monday. For the January to April period, net forex sales stood at $148.5 billion, the State Administration of Foreign Exchange said in a statement on its website.Net foreign exchange sales by China's central bank fell sharply to 54.4 billion yuan in April from a March ...

Markets - FXMM - Asia

South Korean won finishes at 1-month low, stocks wobble SEOUL: The South Korean won eased to a one-month low on Monday as weak Chinese economic data boosted global aversion to riskier assets. The won was quoted at 1,179.7 to the dollar at the conclusion of onshore trade, down 0.7 percent compared to Friday's close of 1,171.4. Trading was boxed in below the 1,180.0 level on dollar-selling.South Korean shares wobbled. The Korea Composite Stock Price Index (KOSPI) closed at 1,967.91 points, almost unchanged from its ...

Markets - FXMM - Asia

Yen slips on sales tax delay report TOKYO: The yen slipped Monday on speculation Tokyo will postpone a sales tax rise to avoid denting Japan's already fragile economy, while a lacklustre string of Chinese data took a bite out of emerging currencies.Japan's leading Nikkei business daily said at the weekend that Prime Minister Shinzo Abe had told officials he wants to delay raising the consumption tax to 10 percent, planned for 2017.The last rise, to eight from five percent in April 2014 ...

Markets - FXMM - Asia

Yen edges up, markets eye Bank of Japan stimulus TOKYO: The yen edged higher Friday even as the Bank of Japan's chief repeated a pledge that he was ready to unleash more stimulus measures to boost the sagging economy.The remarks from Haruhiko Kuroda come after other officials have attempted to weaken the yen by threatening a market intervention, as a recent rally in the currency threatens Japan Inc's profits.On Friday, Kuroda said the central bank "doesn't have to wait" to launch more monetary easing ...