* Indian rupee, Indonesian rupiah leads decline * U.S. dollar shines after strong data * Asian stocks trade mixed * Singapore August inflation expected to moderate By Roushni Nair Sept 25 (Reuters) - Most Asian currencies struggled for direction on Monday, with the Indonesian rupiah leading losses, after hawkish comments from the U.S. Federal Reserve last week set the stage for further rate hikes and bolstered strength in the U.S. dollar. The Singapore dollar and the Indonesian rupiah , the best-performing currency in the region, depreciated 0.1% each. The Philippine peso and the South Korean won firmed 0.1% and 0.2%, respectively. The U.S. dollar index, which on Friday touched an over six-month high, firmed at 105.6 by 0312 GMT as the latest U.S. business activity data highlighted resilience in the world's largest economy. The Federal Reserve left interest rates at 5.25% to 5.5% on Wednesday but projected higher-for-longer interest rates to bring inflation under the central bank's target of 2%. In Singapore, surging certificate of entitlement quota premiums for cars likely kept the country's headline inflation in August stable, according to Barclays. "Base effects from last year's increase in food prices and jump in travel costs likely pushed core inflation slightly lower in August this year," it added. Meanwhile, the recent jump in crude oil prices has increased concerns about a narrowing current account surplus in net importers like Thailand and India, which could fan inflationary pressures. Thailand's baht and the Indian rupee eased 0.1% and 0.2%, respectively. All eyes now turn to the Bank of Thailand's interest rate decision due on Wednesday. The central bank is widely expected to leave its key policy rate unchanged at 2.25% marking an end to a year-long tightening cycle, according to a Reuters poll of analysts. In India, bonds continued to rally after JPMorgan said it would include Indian debt in its widely tracked emerging market debt index, helping the world's fifth-largest economy finance its current account and fiscal deficits. Stocks in emerging Asia were largely trading mixed, with those in Thailand, South Korea and Malaysia slipping more than 0.5%, each. Shares in Philippines and Singapore rose 0.4% and 0.3%, respectively. China stocks fell 0.4%, badgered by heavy losses in real estate stocks after shares of China Evergrande plunged as much as 24% as the embattled developer was unable to issue new debt due to an ongoing investigation into one of its units, dealing a fresh blow to its restructuring plans. HIGHLIGHTS: ** Philippines posts August budget deficit of $2.34 bln ** Sliding yen stokes Bank of Japan intervention threat ** Indonesia coal production to start declining in 2030 - official Asia stock indexes and currencies at 0348 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan +0.03 -11.6 0.84 27.06 1 ChinaIndia -0.18 -0.43 0.00 8.67 Indonesi -0.14 +1.12 -0.16 2.27 a Malaysia +0.06 -6.02 -0.47 -3.48 Philippi +0.08 -1.93 0.37 -6.10 nes S.Korea Singapor -0.10 -1.90 0.17 -1.26 e Taiwan -0.06 -4.46 0.70 16.42 Thailand -0.04 -3.90 -0.33 -9.05 (Reporting by Roushni Nair in Bengaluru; editing by Miral Fahmy)
Real-time Estimate TTMZero 15:28:59 2024-05-31 EDT | 5-day change | 1st Jan Change | ||
1.085 USD | +0.13% | +0.30% | -1.73% |
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Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,772 PTS | +1.70% | +0.64% | - | ||
1,383 KRW | +0.73% | +1.30% | - | ||
1,015 KRW | +1.12% | +2.05% | - | ||
919.3 KRW | +0.95% | +1.94% | - | ||
736.3 USD | -1.26% | -4.00% | - | ||
421.9 PTS | -1.00% | +0.12% | - | ||
220 GBX | +0.66% | +2.33% | 41.49B | ||
170.6 JPY | +0.32% | +0.47% | - | ||
90.52 INR | +0.28% | +0.51% | - | ||
83.42 INR | +0.14% | +0.18% | - | ||
81.16 USD | -0.90% | -0.38% | - | ||
76.96 USD | -0.86% | +0.18% | - | ||
61.2 INR | +0.52% | +0.93% | - | ||
55.42 INR | +0.33% | +0.77% | - | ||
16.58 KRW | +0.59% | +1.12% | - | ||
7.241 CNY | +0.13% | 0.00% | - | ||
1.721 SGD | +0.13% | +0.31% | - | ||
1.465 SGD | +0.20% | +0.25% | - | ||
1.352 SGD | +0.09% | -0.02% | - | ||
1.273 USD | +0.03% | +0.32% | - | ||
1.084 USD | +0.11% | +0.30% | - | ||
0.7338 USD | +0.42% | +0.78% | - | ||
0.6644 USD | +0.23% | +0.68% | - | ||
0.6141 USD | +0.42% | +0.74% | - | ||
0.163 HKD | -20.87% | -.--% | 275M | ||
0.0162 SGD | -0.00% | 0.00% | - | ||
0.012 USD | -0.14% | 0.00% | - | ||
- PTS | -.--% | +1.02% | - | ||
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