12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Asia

Markets - FXMM - Asia

Sri Lankan rupee eases on importer dollar demand COLOMBO: The Sri Lankan rupee was slightly weaker on Tuesday on importer dollar demand and in line with declines in emerging market currencies that fell on investor fears that higher U.S. interest rates under incoming President Donald Trump would spark capital outflows from those markets.The weakness in the rupee also followed Sri Lanka's budget proposals on Thursday to revise corporate and withholding taxes to boost revenue and cut the 2017 fiscal deficit to 4.6 percent of the GDP from this year's 5.4 percent.Dealers also said a high-tax regime could put some pressure on the rupee.Rupee forwards were active, with spot-next forwards trading at 148.30/50 per dollar at 0526 GMT, compared with Friday's close of 148.00/10.One-week forwards were at 148.50/65 per dollar, weaker from Friday's close of 148.20/30.Markets were closed on Monday for a Buddhist religious holiday."The importer demand is there after the long weekend," a currency dealer said requesting anonymity."Globally, ...

Markets - FXMM - Asia

South Korean won slightly higher, stocks edge down; Park woes deepen SEOUL: The South Korean won ended a bit higher on Tuesday, recouping some of the losses from the past four sessions of decline as investors hunted for bargains.Political scandal at home still deepened, however, as reports said prosecutors summoned Lotte Group Chairman Shin Dong-bin, which if true would make him the latest head of a South Korean conglomerate to be questioned on the allegation of raising funds for foundations involving her friend, Choi Soon-sil.The won ...

Markets - FXMM - Asia

Dollar climbs as US yields spike; Asia shares divided SYDNEY: The US dollar hit a nine-month peak in Asia on Monday as the risk of faster domestic inflation and wider budget deficits sent Treasury yields ever higher, a painful mix for assets in many emerging market countries.The reflation trade saw E-mini futures for the S&P 500 add another 0.5 percent and spread betters pointed to solid opening gains for the major European bourses.The dollar bounded above 107 yen in brisk trade to hit 107.43, ...

Markets - FXMM - Asia

Higher US yields deepen Asia outflow worries; ringgit hit SINGAPORE: Emerging Asian currencies and bonds extended losses on Monday, with Malaysia's ringgit near 10-month lows on growing fears that higher US Treasury yields on US president-elect Donald Trump's policy stance may spur more regional capital outflows.Asian policymakers continued to pledged efforts to stabilise their currencies, but investors took those comments as chances to cut risks of further depreciation in emerging Asia."It will start some bond outflows but I think we are more in the ...

Markets - FXMM - Asia

China Oct new yuan loans down sharply as property curbs start to bite BEIJING: Chinese banks extended 651.3 billion yuan ($95.56 billion) in net new yuan loans in October, below expectations and falling sharply from September, as policymakers pledged to prevent asset bubbles in the increasingly debt-fueled economy. The People's Bank of China has been keeping policy accommodative to spur growth - as evident by record bank lending so far this year - but it faces an uphill battle to divert money from the red-hot property market into ...

Markets - FXMM - Asia

South Korean won ends at 4-month low as Trump aftershocks shake emerging markets SEOUL: The South Korean won fell to a four-month low on Friday as emerging markets slumped on worries about future US fiscal and monetary policy under President-elect Donald Trump. The won was quoted at 1,164.8 to the dollar at the conclusion of onshore trade, down 1.2 percent compared to Thursday's close of 1,150.6, marking the weakest point since July 6, 2016.The currency slid 1.9 percent for the week, its biggest weekly loss in 10 months.South ...

Markets - FXMM - Asia

Malaysian ringgit sinks offshore just as economy perks up SINGAPORE/KUALA LUMPUR: Malaysia's ringgit plunged to its weakest in more than 12 years in offshore markets on Friday as investors dumped government bonds, forcing the central bank to use its persuasive powers to keep the spot rate steady by deterring sellers onshore. As the currency slumped offshore, Bank Negara Malaysia governor Muhammad Ibrahim unveiled better than expected third quarter economic growth and current account data, and said the ringgit should not be priced out of ...