SINGAPORE: Most emerging Asian currencies edged up on Tuesday, helped by the yen's strength and a rebound in the Chinese yuan after it opened weaker than central bank guidance for the first time since September.
South Korea's won turned firmer, outpacing regional peers, on demand from local exporters for month-end settlements. Custodian banks bought the currency as foreign investors were net buyers in Seoul's main stock market for a sixth straight session.
Foreign exchange authorities were spotted intervening to stem the won's appreciation, traders said.
Spot yuan opened at 6.1438 per dollar, compared to an official midpoint of 6.1390 published before the market open. The renminbi later turned firmer with the fixing.
The yen rose as Bank of Japan Governor Haruhiko Kuroda said recent yen falls are positive for exporters, but hurt households as well as small firms and non-manufacturers through rises in import costs.
Malaysia's ringgit rose as local traders covered short positions. The Singapore dollar edged up on data showing the city-state's economy in the third quarter grew faster than initially estimated.
The Philippine peso eased as slowing electronics imports raised concerns over the country's exports.
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