* Taiwan dollar, Korean won top gains * Indonesian stocks at over 1-year high * U.S. dollar on shaky ground By Roushni Nair Dec 4 (Reuters) - Most emerging Asian currencies and stocks traded higher on Monday, as investors assessed remarks from Federal Reserve Chair Jerome Powell that reaffirmed expectations that the U.S. monetary tightening cycle has come to an end. The Malaysian ringgit, the South Korean won and Indonesian rupiah added 0.3% each, by 0323 GMT. Taiwanese dollar led the pack, gaining 0.5%. While stocks in Bangkok, Manila, and Seoul rose over 0.3%, each, those in Jakarta advanced nearly 1%, touching their highest level since October last year. Risk appetite improved on expectations the next move by the Federal Reserve will be to cut rates, with Fed Chair Jerome Powell on Friday declining the opportunity to push back hard against aggressive market pricing. All eyes will be on the November U.S. jobs report on Wednesday that could influence the outlook for U.S. interest rates. The U.S. dollar index, which tracks the currency against six major counterparts, was last hovering around Friday's close at 103.28. The index lost over 3% of its value in November, helping emerging Asian assets regain some lost ground. "While risk currencies may remain buoyed ahead of next week's FOMC, "risk on" may not be unequivocally bold in shorting the USD either," Vishnu Varathan, head of economics and strategy at Mizuho Bank wrote. Thailand's baht dipped 0.4%, and the Indian rupee traded largely flat. Recent volatility in oil prices over the conflict in the Middle East and uncertainty over OPEC+ voluntary output cuts have dented confidence in net oil importing countries like India and Thailand. Markets will be watching out for a slate of regional inflation data due later this week, with the Philippines on Tuesday, Taiwan on Wednesday, and Thailand on Thursday. Bangko Sentral ng Pilipinas (BSP) last week highlighted still strong annual inflation for November, flagging higher prices on food, electricity, and toll prices as primary factors pushing prices upward. In China, the yuan was largely flat after the country's central bank set another firm fix for the local unit. Trade figures for China are due later in the week with the recent trend of softening exports to the U.S. overshadowing gains in Asia. "The RMB continues to be supported by the soft USD environment but its domestic fundamentals paint a less upbeat picture," analysts at HSBC said in a note. HIGHLIGHTS: ** South Korea to consult China over urea export delays ** China Evergrande liquidation hearing adjourned to January ** In boost for Modi, BJP sweeps polls in three Indian states Asia stock indexes and currencies at 0448 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan +0.03 -10.6 -0.67 29.12 6 ChinaIndia -0.05 -0.73 1.39 13.50 Indonesi +0.20 +0.75 1.09 4.18 a Malaysia +0.24 -5.58 -0.25 -2.86 Philippi +0.25 +0.63 0.33 -4.58 nes S.Korea Singapor -0.11 +0.37 0.40 -4.57 e Taiwan +0.45 -2.00 -0.02 23.32 Thailand -0.20 -0.93 0.46 -16.90 (Reporting by Roushni Nair in Bengaluru Editing by Shri Navaratnam)
Delayed 21:40:48 2024-05-14 EDT | 5-day change | 1st Jan Change | ||
1.082 USD | +0.06% | +0.65% | -1.95% |
03:16am | Gold prices edge lower as traders eye US data for Fed clues | RE |
03:04am | Fed's Schmid says Jackson Hole theme to be monetary policy transmission | RE |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,741 PTS | +0.37% | -0.24% | - | ||
1,363 KRW | +0.01% | +0.46% | - | ||
1,000 KRW | +0.18% | +1.23% | - | ||
903.6 KRW | +0.06% | +1.05% | - | ||
733.1 USD | +0.75% | +3.40% | - | ||
90.35 INR | +0.03% | +0.68% | - | ||
83.47 INR | -0.03% | +0.03% | - | ||
82.79 USD | +0.08% | -0.18% | - | ||
78.17 USD | +0.13% | +0.08% | - | ||
61.16 INR | +0.00% | +0.62% | - | ||
55.34 INR | +0.07% | +0.63% | - | ||
16.35 KRW | +0.13% | +0.55% | - | ||
9.105 CNY | -0.01% | +0.85% | - | ||
7.826 CNY | +0.03% | +0.81% | - | ||
7.24 CNH | +0.00% | +0.20% | - | ||
7.233 CNY | +0.01% | +0.21% | - | ||
5.298 CNY | +0.11% | +0.46% | - | ||
4.794 CNY | +0.04% | +0.77% | - | ||
1.259 USD | +0.06% | +0.71% | - | ||
1.082 USD | +0.06% | +0.65% | - | ||
0.7326 USD | +0.04% | +0.62% | - | ||
0.6631 USD | +0.11% | +0.62% | - | ||
0.6047 USD | +0.08% | +0.82% | - | ||
0.163 HKD | -20.87% | -.--% | 275M | ||
0.0866 CNY | -0.03% | +0.12% | - | ||
0.012 USD | +0.01% | 0.00% | - | ||
- PTS | -.--% | +1.02% | - | ||
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