08262016Fri
Last update: Fri, 26 Aug 2016 04pm

Asia

Markets - FXMM - Asia

South Korean won reverses on S&P's credit rating upgrade, stocks up SEOUL: The South Korean won changed course and ended higher on Monday after Standard and Poor's raised the country's long-term sovereign credit rating to AA from AA-minus with a stable outlook.The won was quoted at 1,108.3 to the dollar at the conclusion of onshore trade, up 0.2 percent compared to Friday's close of 1,110.4.South Korean shares extended gains on foreign stock purchases, with the Korea Composite Stock Price Index (KOSPI) ending at 2,031.12 points, up 0.7 percent.Offshore investors turned to buyers, purchasing a net 81.0 billion won ($73.12 million) worth of KOSPI shares. Copyright Reuters, 2016 ...

Markets - FXMM - Asia

Taiwan dollar hits strongest intraday level vs US dollar since Aug 2015 TAIPEI: The Taiwan dollar traded at its strongest intraday level against the US dollar in nearly 13 months on Friday after the Bank of England cut interest rates to next to nothing and unleashed billions of pounds of stimulus to cushion the economic shock from Britain's vote to leave the European Union. At 0606 GMT, the local currency hit T$31.554, a level not seen since Aug. 11, 2015.Copyright Reuters, 2016 ...

Markets - FXMM - Asia

China's yuan slips on global dollar strength, sentiment stable on central bank support SHANGHAI: China's yuan weakened on Friday as the dollar rebounded globally for a second day, but traders said sentiment towards the Chinese currency remained stable after the central bank had intervened to support it."Dollar demand remains strong, but state banks have been continuously offering dollar liquidity on behalf of the central bank of late," said a senior dealer at a European bank in Shanghai."Still, the central bank appears to be intervening in trade less this ...

Markets - FXMM - Asia

Pound edges up after Bank of England stimulus slump TOKYO: The pound ticked up slightly Friday after plunging the day before in reaction to the Bank of England's interest rate cut and surprise stimulus to shore up the British economy.The central bank slashed interest rates to a record low 0.25 percent -- the first cut since 2009 -- Thursday, while it also unveiled a £170 billion growth-boosting package.Bank policymakers' hands were forced after the country voted on June 23 to quit the European Union, ...

Markets - FXMM - Asia

Sri Lankan rupee ends firmer on bond buying by foreign investors COLOMBO: The Sri Lankan rupee ended firmer on Thursday as foreign investors sold dollars to buy local bonds on hopes of higher returns after the central bank's policy rate hike, dealers said.The spot rupee, which was last actively traded on June 13, resumed trading on Thursday. It traded at 145.60/68 per dollar, compared with Wednesday's indicative price of 145.80/90, a dealer said."There was a lot of foreign buying in local bonds. The spot currency is ...

Markets - FXMM - Asia

Higher equities support Asia FX; BOE rate policy eyed SINGAPORE: Most emerging Asian currencies crawled higher on Thursday, tracking gains in regional stock markets, while investors expected the Bank of England to cut interest rates later in the day.South Korea's won advanced as foreign investors resumed buying Seoul shares.The Malaysian ringgit rose as a temporary rebound in crude prices eased concerns over the country's oil and gas revenues. Higher oil prices also lifted Asian and US equities.The BoE is predicted to cut interest rates ...

Markets - FXMM - Asia

China's yuan little changed as dollar strength offsets weaker midpoint SHANGHAI: China's yuan was little changed on Thursday, despite a weaker central bank midpoint fixing, reflecting a steep rebound in the greenback, traders said."The yuan factored in the dollar's global performance yesterday evening, and that has offset a sharp weakening in the midpoint," said a trader at a Chinese commercial bank in Shanghai.The People's Bank of China set the midpoint rate at 6.6444 per dollar prior to market open, weaker than the previous fix 6.6195.As ...