06272016Mon
Last update: Mon, 27 Jun 2016 01am

Asia

Markets - FXMM - Asia

Surging pound stumbles as Brexit vote draws closer TOKYO: The pound slipped on Tuesday after its best one-day gain since the 2008 global financial crisis, with Britain's nailbiting vote on its future in the European Union just days away.Polls suggest the race is tight and could go either way when Britons cast their ballot in an historic vote on Thursday that will decide whether the country stays or leaves the 28-member EU.The pound has been on a see-saw as the referendum approaches, with critics of a so-called Brexit warning that leaving could spell disaster for Britain's prospects."It is difficult to take long positions now ahead of the vote," said Minori Uchida, head of Tokyo global markets research at Bank of Tokyo-Mitsubishi UFJ.In Tokyo, the pound edged down to $1.4657 from $1.4675 in New York, where it had jumped 2.4 percent to $1.4708 at one stage, its biggest daily gain in years.The 'Remain' camp on Monday won support from ...

Markets - FXMM - Asia

India markets fall after RBI Rajan's surprise move to quit in September NEW DELHI/MUMBAI: India's rupee fell to a near one-month low and bonds weakened on Monday after central bank governor Raghuram Rajan, whose reforms have been credited for much of the economy's success in recent years, announced he would quit when his term ends in September.While the currency partially recovered losses, investors warn Rajan's replacement, who is yet to be named, will need to be seen as credible and somebody who can defend the central bank's ...

Markets - FXMM - Asia

South Korean won, stocks hit 1-week highs, investors rediscover risk appetite SEOUL: The South Korean won and shares strengthened to one-week highs on Monday as investors rediscovered their appetite for riskier assets due to growing speculation that Britain will vote to remain in the European Union.The won was quoted at 1,160.8 to the dollar at the conclusion of onshore trade, up 1.0 percent from Friday's close of 1,172.7.The Korea Composite Stock Price Index (KOSPI) closed up 1.4 percent at 1,981.12 points.Foreign investors bought a net 21.3 ...

Markets - FXMM - Asia

Sterling rallies as polls favour Britain remaining in EU, yen slips TOKYO/SYDNEY: Sterling rallied on Monday as opinion polls swung in favour of British voters opting to remain in the European Union at this week's referendum, underpinning risk sentiment and sending the perceived safe-haven yen tumbling.The pound climbed 1.4 percent to $1.4560 after rising as high as $1.4625 earlier, extending a recovery from last Thursday's more than two-month trough of $1.4013.It jumped nearly 2 percent to 152.42 yen after rising as high as 152.94, pulling well ...

Markets - FXMM - Asia

Sri Lankan rupee 1-week forwards weaker on importer dollar demand  COLOMBO: Sri Lankan rupee one-week forwards traded weaker on Monday due to importer dollar demand while dealers said the rupee was under pressure due to lack of exporter dollar conversions amid moral suasion by the central bank .One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee in the absence of trade in three-day forwards on Monday, were at 146.00/30 per dollar at 0527 GMT, weaker from Friday's close of 145.90/146.10."The ...

Markets - FXMM - Asia

South Korea won, shares rise as Brexit worries fade SEOUL: The South Korean won and shares rose early on Monday as improved prospects for Britain to remain in the European Union reduced investors' fears of market turmoil if Britain were to quit the EU.The won was at 1,165.2 per dollar as of 0154 GMT, up 0.6 percent compared to the previous close of 1,172.7.The Korea Composite Stock Price Index (KOSPI) was up 1.2 percent at 1,976.58 points.The campaign to keep Britain in the EU ...

Markets - FXMM - Asia

Sterling rallies as polls favour Britain remaining in EU, yen sags TOKYO/SYDNEY: Sterling rallied on Monday as opinion polls swung in favour of British voters opting to remain in the European Union at this week's referendum, underpinning risk sentiment and sending the perceived safe-haven yen tumbling.The pound climbed 1.6 percent to $1.4589, extending a recovery from last Thursday's more than two-month trough of $1.4013.It jumped more than 2 percent to 152.65 yen, pulling well away from a three-year trough around 145.34 set on Thursday.Investors took heart ...