* Philippine peso hits over 2-month high * First Thai parliament meeting due later in the day * China's June Caixin PMI eased to 50.5 from 50.9 in May By Upasana Singh July 3 (Reuters) - Most Asian emerging currencies advanced on Monday as investors braced for a week packed with economic data that could provide further clues on the outlook for the Chinese economy and the Federal Reserve's stance on future policy tightening. The Philippine peso strengthened 0.2% to hit its highest since April 12, while Thailand's baht rose 0.5% and led gains in the region. Markets await Thailand's first parliamentary session scheduled to take place later in the day, a royal decree published on the official royal gazette website said on Saturday. The decree sets a motion for the formation of a new government, following the general election in May, with the vote to elect a new prime minister likely to be held in July. "I am quite concerned that the baht could be quite volatile i.e. reverse recent gains," said Poon Panichpibool, a markets strategist at Krung Thai Bank. If the Pheu Thai party reaffirms their goal to secure the House speakership that could signal more tensions with the Move Forward party and could be seen as raising uncertainty about forming the coalition government, Panichpibool added. China's yuan was up 0.1%, after data showed factory activity growth in June eased to 50.5 from 50.9 in May, beating market forecasts of 50.2, but still underlining the weakening trend seen in other surveys. Shares in Shanghai were trading 1.3% higher. "We still hold a glass half full view that a stimulus package could be unleashed after the Chinese leaders made multiple rounds of conversations held with local and foreign business leaders and foreign counterparties," analysts at Maybank said in a note. In South Korea, factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month. The won firmed 0.6% as signs of a recovery in the country's exports and Wall Street's rally in the previous session aided the currency. Equities in Seoul gained 1.5%. Elsewhere, the Vietnamese dong fell 0.1% to hit a more than three-month low and Russia's rouble weakened 2.7% over domestic political risk concerns. Minutes of the U.S. Federal Reserve's June meeting due on Wednesday will be crucial to the outlook for interest rates. The central bank left interest rates unchanged in its June meeting but hinted that borrowing costs may still need to rise by as much as half of a percentage point by the end of the year. HIGHLIGHTS: ** China forex regulator Pan Gongsheng named central bank party boss ** Asia's factory activity slumped in June, business surveys showed, as sluggish demand in China and advanced nations clouded the outlook for the region's exporters ** Japanese business sentiment improved in the second quarter as raw material costs peaked and removal of pandemic curbs lifted consumption, a central bank survey showed The following table shows rates for Asian currencies against the dollar at 0413 GMT. COUNTRY FX RIC FX FX INDE STOCKS STOCKS DAILY % YTD % X DAILY YTD % % Japan -0.16 -9.30 <.N2 1.65 29.28 25> ChinaEC> India +0.27 +1.11 <.NS 0.48 6.50 EI> Indonesi -0.23 +3.59 <.JK 0.22 -2.54 a SE> Malaysia +0.00 -5.68 <.KL 1.01 -7.02 SE> Philippi +0.19 +0.92 <.PS 0.39 -1.11 nes I> S.Korea 11> Singapor +0.14 -0.76 <.ST 0.22 -1.17 e I> Taiwan +0.02 -1.36 <.TW 1.07 20.93 II> Thailand +0.53 -1.58 <.SE -0.29 -10.18 TI> (Reporting by Upasana Singh in Bengaluru; Editing by Lincoln Feast)
Delayed 19:41:18 2024-05-09 EDT | 5-day change | 1st Jan Change | ||
92.56 RUB | +0.88% | +1.57% | +3.59% |
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Stocks mentioned in the article
Price
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Change
|
5d. change
|
Capi.
| ||
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2,713 PTS | +0.26% | -0.58% | - | ||
712 USD | -0.66% | +1.83% | - | ||
92.56 RUB | +0.88% | +1.57% | - | ||
39.55 THB | -0.23% | +0.22% | - | ||
36.7 THB | -0.62% | -0.29% | - | ||
24.3 PTS | +0.05% | +0.48% | - | ||
16.7 THB | 0.00% | -0.60% | 6.32B | ||
7.22 CNH | -0.10% | +0.23% | - | ||
7.219 CNY | -0.06% | -0.28% | - | ||
1.252 USD | +0.26% | -0.11% | - | ||
1.078 USD | +0.33% | +0.49% | - | ||
0.7311 USD | +0.37% | -0.05% | - | ||
0.6036 USD | +0.54% | +1.22% | - | ||
0.012 USD | +0.01% | 0.00% | - | ||
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