AIRLINK 178.25 Decreased By ▼ -2.11 (-1.17%)
BOP 11.09 Decreased By ▼ -0.08 (-0.72%)
CNERGY 8.54 Increased By ▲ 0.01 (0.12%)
CPHL 97.60 Decreased By ▼ -2.81 (-2.8%)
FCCL 45.63 Decreased By ▼ -0.33 (-0.72%)
FFL 15.99 Increased By ▲ 0.18 (1.14%)
FLYNG 27.90 Increased By ▲ 0.01 (0.04%)
HUBC 142.55 Increased By ▲ 0.08 (0.06%)
HUMNL 13.01 No Change ▼ 0.00 (0%)
KEL 4.49 Decreased By ▼ -0.03 (-0.66%)
KOSM 5.91 Increased By ▲ 0.07 (1.2%)
MLCF 61.30 Decreased By ▼ -0.60 (-0.97%)
OGDC 212.70 Decreased By ▼ -1.62 (-0.76%)
PACE 5.88 Decreased By ▼ -0.04 (-0.68%)
PAEL 46.51 Decreased By ▼ -0.32 (-0.68%)
PIAHCLA 17.60 Decreased By ▼ -0.24 (-1.35%)
PIBTL 10.60 Decreased By ▼ -0.02 (-0.19%)
POWER 12.10 Decreased By ▼ -0.07 (-0.58%)
PPL 170.50 Decreased By ▼ -2.21 (-1.28%)
PRL 34.91 Decreased By ▼ -1.11 (-3.08%)
PTC 22.80 Decreased By ▼ -0.46 (-1.98%)
SEARL 94.90 Decreased By ▼ -1.16 (-1.21%)
SSGC 40.35 Decreased By ▼ -0.99 (-2.39%)
SYM 14.20 Decreased By ▼ -0.24 (-1.66%)
TELE 7.42 Increased By ▲ 0.04 (0.54%)
TPLP 10.21 Increased By ▲ 0.13 (1.29%)
TRG 66.70 Decreased By ▼ -1.20 (-1.77%)
WAVESAPP 10.09 Increased By ▲ 0.09 (0.9%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.84 Increased By ▲ 0.03 (0.79%)
AIRLINK 178.25 Decreased By ▼ -2.11 (-1.17%)
BOP 11.09 Decreased By ▼ -0.08 (-0.72%)
CNERGY 8.54 Increased By ▲ 0.01 (0.12%)
CPHL 97.60 Decreased By ▼ -2.81 (-2.8%)
FCCL 45.63 Decreased By ▼ -0.33 (-0.72%)
FFL 15.99 Increased By ▲ 0.18 (1.14%)
FLYNG 27.90 Increased By ▲ 0.01 (0.04%)
HUBC 142.55 Increased By ▲ 0.08 (0.06%)
HUMNL 13.01 No Change ▼ 0.00 (0%)
KEL 4.49 Decreased By ▼ -0.03 (-0.66%)
KOSM 5.91 Increased By ▲ 0.07 (1.2%)
MLCF 61.30 Decreased By ▼ -0.60 (-0.97%)
OGDC 212.70 Decreased By ▼ -1.62 (-0.76%)
PACE 5.88 Decreased By ▼ -0.04 (-0.68%)
PAEL 46.51 Decreased By ▼ -0.32 (-0.68%)
PIAHCLA 17.60 Decreased By ▼ -0.24 (-1.35%)
PIBTL 10.60 Decreased By ▼ -0.02 (-0.19%)
POWER 12.10 Decreased By ▼ -0.07 (-0.58%)
PPL 170.50 Decreased By ▼ -2.21 (-1.28%)
PRL 34.91 Decreased By ▼ -1.11 (-3.08%)
PTC 22.80 Decreased By ▼ -0.46 (-1.98%)
SEARL 94.90 Decreased By ▼ -1.16 (-1.21%)
SSGC 40.35 Decreased By ▼ -0.99 (-2.39%)
SYM 14.20 Decreased By ▼ -0.24 (-1.66%)
TELE 7.42 Increased By ▲ 0.04 (0.54%)
TPLP 10.21 Increased By ▲ 0.13 (1.29%)
TRG 66.70 Decreased By ▼ -1.20 (-1.77%)
WAVESAPP 10.09 Increased By ▲ 0.09 (0.9%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.84 Increased By ▲ 0.03 (0.79%)
BR100 12,505 Increased By 24.1 (0.19%)
BR30 37,741 Decreased By -266.6 (-0.7%)
KSE100 116,866 Increased By 90.7 (0.08%)
KSE30 35,912 Increased By 63.2 (0.18%)

The Thai baht inched higher on Monday, outperforming most other emerging market currencies in Asia, after the country posted better-than-expected economic growth data, reflecting a rebound in tourism and exports.

The baht gained as much as 0.23% against the US dollar, while stocks were trading 0.6% higher.

Growth in Southeast Asia’s second-largest economy beat market forecasts for the July-September quarter, helped by a recovery in exports, government investment and tourism-related activities, the National Economic and Social Development Council said. The baht has declined about 7% so far this quarter, making it Asia’s worst performing currency.

“It remains to be seen how government stimulus like the cash handout measures would support private consumption amid headwind from hefty household debts,” said Poon Panichpibool, a markets strategist at Krung Thai Bank.

The overall Thai economy would recover further but at a gradual pace, said Panichpibool.

In other news, Mexico, Latin America’s second-largest economy, is seen expanding between 2% and 3% in 2025, according to the country’s proposed budget on Friday, higher than the IMF forecast of 1.3%.

The Mexican peso was down 0.3%.

Investors in emerging Asia are now keenly awaiting the Indonesian central bank’s monetary policy decision due on Wednesday.

Asian currencies extend losses

Bank Indonesia is expected to keep borrowing costs unchanged this month.

Gains in the US dollar and Treasury yields have weighed on fund inflows and emerging-market currencies, DBS analysts said, adding that the rupiah had not been immune from this selling pressure.

“Against this backdrop, the bias for policymakers will be to preserve rate differentials and keep rates on hold,” DBS said in reference to Bank Indonesia’s policy meeting.

Asian shares were mostly upbeat, although investors weighed chances of slow interest rate cuts in the United States.

Samsung Electronics stood out, gaining up to 7.5% after South Korea’s biggest firm announced a surprise stock buyback plan late on Friday. The country’s stock market gained as much as 2.6%.

Equity markets in Malaysia and the Philippines climbed 0.7% and 0.9%, respectively, taking a lead from the broad moves in South Korea.

Comments

200 characters