07262016Tue
Last update: Tue, 26 Jul 2016 01am

Asia

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 shares on Monday.Shares of defence industry-related firms such as Hanwha Techwin Co Ltd and Korea Aerospace Industries Ltd jumped on North Korea's military threat concerning South Korea's deployment of the THAAD missile defence system. Copyright Reuters, 2016 ...

Markets - FXMM - Asia

Profit-taking weighs on Asia FX; yuan at fresh 5-1/2-year low SINGAPORE: Most emerging Asian currencies eased on Tuesday, tracking weakness in stock markets, as traders booked profits ahead of regional holidays and key US job data later this week.The Chinese yuan touched a fresh 5-1/2-year low after the central bank fixed a weaker midpoint, reinforcing concerns that the central bank is letting the renminbi slide further to support struggling exports.South Korea's won fell as offshore funds sold the currency, tracking weakness in regional peers, and ...

Markets - FXMM - Asia

Sri Lanka rupee edges up on dollar sales by foreign bank; stocks up COLOMBO: The Sri Lankan rupee edged up in one-week forwards on Tuesday, as dollar sales by a foreign bank outpaced mild importer demand for the greenback, while the market waited for a policy statement from the new central bank governor, dealers said.The spot rupee is tightly managed by the central bank and market participants use the forward market levels for guidance on the currency.Many dealers said the central bank did not intervene for the second ...

Markets - FXMM - Asia

China's yuan extends losses for 4th session to new 5-1/2-year low  SHANGHAI: The yuan extended losses for a fourth session against the dollar on Tuesday, touching a fresh 5-1/2-year low and raising concerns the central bank is letting the Chinese currency slide further."Our clients are getting edgy given the yuan has hit multi-year lows repeatedly," said a trader at a European bank in Shanghai. "So there was quite a bit of heavy dollar buying in the morning.""No one knows how long this bout of depreciation will ...

Markets - FXMM - Asia

Yen climbs on fears over Italian banks, Britain EU talks TOKYO: The yen rose Tuesday on fears about Italian banks' finances, while the resignation of a leading Brexit campaigner sparked renewed worries about Britain's political situation as it prepares to break from the EU.Jittery investors sought refuge in the Japanese unit -- a safe haven in times of turmoil -- as the European Central Bank on Monday demanded action over the high level of bad loans at Italy's third-largest lender. The call stirred fears about ...

Markets - FXMM - Asia

Sri Lanka one-week rupee forwards edge down on importer demand, low liquidity  COLOMBO: Sri Lankan rupee one-week forwards traded slightly weaker on Monday on importer dollar demand and low liquidity ahead of Ramadan, while nervous investors awaited a policy statement from the new central bank governor, dealers said.President Maithripala Sirisena has appointed former central banker Indrajith Coomaraswamy as the central bank chief on Saturday, moving to quell uncertainty after the previous governor declined to seek re-appointment.One-week dollar/rupee forwards, which have been acting as a proxy for the ...

Markets - FXMM - Asia

Dollar index may retrace to 95.044 before rising SINGAPORE: The dollar index may retrace a bit further to 95.044 this week, before resuming its uptrend towards 97.068.The index is riding on a wave c, the third wave of a three-wave cycle from the May 3 low of 91.919. This wave is capable of travelling to 97.068, its 100 percent Fibonacci projection level.The resistance at the 86.4 percent level of 96.517 has temporarily stopped the wave c and caused a pullback towards the trendline ...