Won leads Asia FX gains, South Korea eases stock movement rules

SINGAPORE: The won led gains among emerging Asian currencies on Tuesday on easing geopolitical concerns and as South Korea announced plans to double the daily stock movement limit as a part of the government's economic revival campaign.

South Korea's exporters bought the won for settlements, prompting traders to cover short positions to stop losses. Foreign investors turned to net buyers in Seoul's main stock market.

The Malaysian ringgit edged up on bond inflows and as investors bought it against the Singapore dollar.

The Chinese yuan, however, retreated as the central bank set the official rate almost unchanged from the previous fix.