BENGALURU: South Korean stocks gained on Tuesday after AI startup Anthropic filed for an initial public offering, while Indonesian assets came under pressure, with equities falling over 3 percent and the rupiah slipping towards the 18,190-per-dollar mark.
MSCI’s emerging Asia equities index rose over 1 percent, helped by gains in South Korea’s KOSPI. Along with Taiwan’s benchmark index, South Korean shares account for more than half of the regional gauge.
Claude-owner Anthropic’s closely watched IPO filing lifted risk appetite ahead of earnings from major US technology companies.
The optimism drove the KOSPI up as much as 4.9 percent earlier in the session before it ended 3.1 percent higher.
Indonesia’s benchmark stock index fell over 3 percent as investors continued to assess MSCI’s downgrade warning, which has dented investor confidence, with Reed Capital Partners’ chief investment officer Gerald Gan saying the selloff in Indonesian equities may not be over yet.
The rupiah traded near record lows at 18,155 per US dollar, remaining within sight of the all-time trough hit in early June.
The Thai baht was little changed, while stocks edged lower ahead of the Bank of Thailand’s policy decision on Wednesday, with markets widely expecting policymakers to leave interest rates unchanged and maintain that stance through 2027.
Taiwan benchmark stock index rose 0.1 percent, while the Taiwan dollar added 0.2 percent.
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