07252016Mon
Last update: Mon, 25 Jul 2016 03pm

Asia

Markets - FXMM - Asia

Yen slumps on Japan stimulus speculation TOKYO: The yen slumped Tuesday on expectations that Tokyo is drawing up a fresh round of huge stimulus to kickstart the torpid Japanese economy.After his ruling coalition swept weekend parliamentary elections, Japanese Prime Minister Shinzo Abe said the government would unveil measures to kickstart growth, which local media said could be worth trillions of yen.Speculation that Japan's central bank may move at its meeting later this month also weighed on the yen, which fell against most of its major peers Tuesday.The dollar rose to 103.12 yen from 102.82 yen in New York, and well up from the 101.70 yen in Tokyo earlier Monday.The euro jumped to 114.13 yen against 113.68 yen and strengthened to $1.1076 from 1.1057."Expectations of large fiscal stimulus following Abe's big election win is behind the weakness in the yen," Khoon Goh, head of Asia research at Australia & New Zealand Banking Group, told Bloomberg News.The yen ...

Markets - FXMM - Asia

Yen rally fizzles as Japan election boosts stimulus hopes TOKYO: The yen slumped on Monday, halting a four-day rally, as a landslide victory for Japan's ruling coalition in weekend elections boosted hopes for a government stimulus package.Voters on Sunday backed conservative premier Shinzo Abe, despite a lacklustre economic performance, handing his Liberal Democratic Party (LDP) and its allies control of more than half of the upper house of parliament.Abe repeated a pledge for action on a stimulus package to kickstart growth, which Japanese media ...

Markets - FXMM - Asia

Dollar steadies vs yen but seen capped by Fed caution longer-term TOKYO: The dollar steadied against the safe-haven yen on Monday thanks to an improvement in investors' appetite for riskier assets, but traders said the greenback will be capped longer term by views the Federal Reserve will remain cautious on interest rates.The dollar was little changed at 100.700 yen after sliding to as low as 99.99 yen on Friday in the wake of the U.S. jobs report on Friday.Job creation in June was much stronger than ...

Markets - FXMM - Asia

China's yuan slips, central bank seen controlling pace of depreciation SHANGHAI: The yuan inched lower against the dollar on Monday, but further weakness was capped as the central bank was suspected of intervention to offset massive dollar demand from banks' clients, traders said."The rates in the morning were really flat," said a trader at a Chinese commercial bank in Shanghai. "State banks were offering dollars from 6.6870 to 6.6872. Only 2 pips apart.""I suspect that the central bank is not even willing to let the ...

Markets - FXMM - Asia

Solid US jobs data lifts Asia EM FX, except for yuan SINGAPORE: Most emerging Asian currencies rallied on Monday as strong US jobs data improved risk sentiment while the Federal Reserve is seen remaining hesitant to raise interest rates.However, China's yuan eased ahead of key economic indicators such as July trade on Wednesday and second-quarter economic growth on Friday. The central bank was suspected of intervening to support the renminbi, traders said.The South Korean won hit a one-week high as foreign investors bought local stocks and ...

Markets - FXMM - Asia

Yen slips as Tokyo stocks soar after Japan elections TOKYO: The safe-haven yen fell on Monday amid an improvement in investor risk appetite following a surge in Tokyo stocks, but traders said the greenback will be capped longer term by views the Federal Reserve will remain cautious on interest rates.The dollar rose 0.8 percent to 101.37 yen after sliding to as low as 99.99 yen on Friday in the wake of the U.S. jobs report. The euro was up 0.8 percent at 112.020 yenJob ...

Markets - FXMM - Asia

South Korean won, shares end up on strong risk sentiment SEOUL: South Korea's won and shares ended more than one percent higher on Monday, on strong risk sentiment that was boosted by better-than-expected U.S. jobs data.The won was quoted at 1,146.7 to the dollar at the conclusion of onshore trade, up 1.3 percent compared to the previous close of 1,161.8.The Korea Composite Stock Price Index (KOSPI) closed up 1.3 percent at 1,988.54 points.Offshore investors bought a net 268.8 billion won ($234.51 million) worth of KOSPI ...