AIRLINK 165.36 Decreased By ▼ -10.19 (-5.8%)
BOP 10.39 Decreased By ▼ -0.62 (-5.63%)
CNERGY 7.83 Decreased By ▼ -0.46 (-5.55%)
FCCL 45.65 Decreased By ▼ -1.58 (-3.35%)
FFL 15.12 Decreased By ▼ -0.90 (-5.62%)
FLYNG 26.48 Decreased By ▼ -0.83 (-3.04%)
HUBC 135.28 Decreased By ▼ -7.04 (-4.95%)
HUMNL 12.85 Decreased By ▼ -0.45 (-3.38%)
KEL 4.19 Decreased By ▼ -0.25 (-5.63%)
KOSM 5.47 Decreased By ▼ -0.43 (-7.29%)
MLCF 59.43 Decreased By ▼ -2.37 (-3.83%)
OGDC 213.07 Decreased By ▼ -13.70 (-6.04%)
PACE 5.41 Decreased By ▼ -0.36 (-6.24%)
PAEL 42.01 Decreased By ▼ -2.79 (-6.23%)
PIAHCLA 17.05 Decreased By ▼ -0.83 (-4.64%)
PIBTL 9.93 Decreased By ▼ -0.54 (-5.16%)
POWER 11.79 Decreased By ▼ -0.23 (-1.91%)
PPL 174.79 Decreased By ▼ -11.13 (-5.99%)
PRL 34.36 Decreased By ▼ -2.80 (-7.53%)
PTC 22.70 Decreased By ▼ -1.35 (-5.61%)
SEARL 93.75 Decreased By ▼ -6.54 (-6.52%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 36.11 Decreased By ▼ -2.40 (-6.23%)
SYM 13.48 Decreased By ▼ -1.27 (-8.61%)
TELE 7.12 Decreased By ▼ -0.61 (-7.89%)
TPLP 10.21 Decreased By ▼ -0.82 (-7.43%)
TRG 60.93 Decreased By ▼ -5.07 (-7.68%)
WAVESAPP 10.28 Decreased By ▼ -0.69 (-6.29%)
WTL 1.28 Decreased By ▼ -0.07 (-5.19%)
YOUW 3.70 Decreased By ▼ -0.08 (-2.12%)
BR100 12,314 Decreased By -512.5 (-4%)
BR30 36,508 Decreased By -2353.5 (-6.06%)
KSE100 114,909 Decreased By -3882.2 (-3.27%)
KSE30 35,541 Decreased By -1237.5 (-3.36%)

BENGALURU: Most emerging Asian currencies rose on Thursday as the US dollar gave up some overnight gains, while most Asian shares fell as investors refrained from taking fresh bets ahead of key US data that could shed light on the Fed’s easing cycle.

The Malaysian ringgit gained as much as 0.6% to 4.316 per dollar, near its early 2023 highs and bringing its year-to-date gains to about 6.3%.

It has rebounded from a 26-year low hit a few months ago to become the region’s best-performing currency on expectations of strong economic growth and robust foreign investments.

Among other currencies, the Thai baht, South Korean won, Singapore dollar, and Chinese yuan were trading 0.2% to 0.3% higher.

The dollar index, which measures the strength of the greenback against six rivals, failed to sustain its overnight strength, dropping about 0.1% to 100.96.

“It has been a consolidative week for FX markets and we expect the same today. The fact that all the Asian currencies have benefited this month provides us some comfort that we are seeing a meaningful dollar adjustment,” analysts from ING wrote in a note.

Investors await a key US inflation reading on Friday in what has been an otherwise data-light week that has largely kept currencies drifting in narrow ranges.

That caution also kept equities on tenterhooks, with benchmarks in Bangkok, Manila and Kuala Lumpur and Beijing down between 0.3% and 1%.

The tech-heavy benchmarks of Seoul and Taipei ended 1% and 0.8% lower, respectively, after AI-bellwether Nvidia’s quarterly forecasts failed to meet investors’ lofty expectations.

Taiwan Semiconductor Manufacturing, Asia’s most valuable stock, finished 2.2% lower while South Korea’s SK Hynix, an Nvidia supplier, slid 5.4%.

Comments

Comments are closed.