01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Asia

Markets - FXMM - Asia

US rate hike views enfeeble Asia FX; ringgit nears 14-month low SINGAPORE: Most emerging Asian currencies eased on Wednesday as the dollar hovered around a 13-1/2-year peak and as expectations grew that the Federal Reserve may raise interest rates further next year after an expected hike in December.The Malaysian ringgit hit a near 14-month low as short-term foreign investors kept selling local financial assets.With the currency's recent sharp weakening, the country's central bank is expected to leave its benchmark interest rate unchanged in a policy decision later in the day.Indonesia's rupiah fell to around a two-week trough as foreign investors continued to cut equity holdings, while most government bond prices slid.The US dollar traded at 101.01 against a basket of six major currencies, not far from Friday's peak of 101.48, the strongest since April 2003.US home resales rose in October to their highest level in near a decade, data showed on Tuesday, indicating a pickup in the world's top economy.Emerging Asian ...

Markets - FXMM - Asia

China's offshore yuan hits record low as signs of capital flight rattle traders  SHANGHAI: China's yuan weakened in a volatile morning session on Wednesday, with the offshore yuan falling to a record-low as traders grappled with signs of accelerating capital outflows in the wake of Republican Donald Trump's US election win.The People's Bank of China set the midpoint rate at 6.8904 per dollar prior to market open, weaker than the previous fix at 6.8779."The market was rather calm today. Big state banks were offering some dollar liquidity to ...

Markets - FXMM - Asia

Sri Lankan rupee slips on importer dollar demand COLOMBO: The Sri Lankan rupee ended slightly weaker on Tuesday due to dollar demand from importers on fears that US President-elect Donald Trump's policies would lead to a rise in rates and the greenback.Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next month, dealers said. Rupee forwards were active, with spot-next forwards ending at 148.60/70 per dollar, compared with Monday's close of 148.55/65. "The pressure was ...

Markets - FXMM - Asia

Sri Lankan rupee weaker on importer dollar demand; stocks down COLOMBO: The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump's policies would spark higher rates and strengthen the dollar.Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next month, dealers said.Rupee forwards were active, with spot-next forwards trading at 148.70/75 per dollar at 0554 GMT, compared with Monday's close of 148.55/65."The pressure has ...

Markets - FXMM - Asia

South Korean won, stocks up as dollar weakens in global markets SEOUL: The South Korean won and shares erased recent sharp losses on Tuesday as the greenback took a pause in global markets after its near 10-day rally.The won was quoted at 1,176.1 to the dollar at the conclusion of onshore trade, up 0.9 percent from Monday's close of 1,186.6.The Korea Composite Stock Price Index (KOSPI) closed up 0.9 percent at 1,983.47 points, marking its highest level since Nov. 11.Foreign investors bought a net 78 billion ...

Markets - FXMM - Asia

South Korea won, stocks rise as greenback takes a pause SEOUL: The South Korean won and shares both strengthened early on Tuesday as the US dollar took a breather as investors pocketed gains from the greenback's recent rally.The influence pedalling scandal engulfing President Park Geun-hye's government had little impact on South Korean markets though opposition parties began collecting signatures for a parliamentary motion to impeach Park, and were reviewing chances of successfully impeaching her.The won stood at 1,175.0 against the dollar as of 0223 GMT, ...

Markets - FXMM - Asia

Dollar retreats from 13 1/2-year high, pauses after rally SINGAPORE/TOKYO: The dollar took a breather on Tuesday as investors consolidated the gains built on expectations of increased fiscal spending and higher inflation under a Trump administration.An earthquake of magnitude 7.4 and the subsequent tsunami warning in northern Japan prompted knee-jerk selling of the dollar for safe-haven yen in early trade.While the earthquake briefly disrupted cooling functions at a nuclear plant, there were no reports of deaths in the hours after the earthquake hit.Market participants ...