Asian currencies tepid on US election bets; stocks struggle for direction
.
'Trump trade' driving US dollar higher
Malaysia and Singapore Sept CPI due later in the week
Indonesia President Prabowo officially swears in cabinet
By Ayushman Ojha and Adwitiya Srivastava
Oct 21 (Reuters) -Asian stocks were wobbly on Monday, while currencies continued to face downward pressure as mounting expectations of Republican candidate Donald Trump winning the U.S. election next month pushed the dollar higher.
Election polls show rising odds of former President Trump winning the Nov. 5 election and are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high and undermine currencies of trading partners.
The Thai baht THB=TH fell 0.4% and was set for its first monthly decline in six months, while the Philippine peso PHP= inched up 0.1% on Monday but was heading for its first monthly fall since May.
Other regional currencies, such as the South Korean won KRW=KFTC and the Malaysian ringgit MYR= were also on track for monthly declines, and have fallen nearly 4% so far in October.
Most Asian central banks have started their easing cycle. The Bank of Thailand last week surprisingly cut its key interest rate, while the Philippine central bank lowered rates and Bank Indonesia maintained the status quo as expected.
"Bank Negara Malaysia (BNM) is now the only Emerging Asia central bank that we do not expect to ease policy through 2025," Barclays analysts wrote.
Meanwhile, Indonesia's newly minted leader, President Prabowo Subianto officially swore in his cabinet on Monday, including the reappointment of the country's highly-regarded Finance Minister Sri Mulyani Indrawati.
The impact of Prabowo's election as Indonesia's new president should be positive for bonds and the rupiah, as Sri Mulyani has been reappointed as the finance minister, while the impact on stock market is to be mixed as details on policies are still awaited, said Fakhrul Fulvian, an economist at Trimegah Securities.
Shares in Jakarta .JKSE inched 0.3% higher, while the rupiah IDR= was largely unchanged.
In other parts of Asia, stock markets were wobbly, as investors looked for further details of more fiscal support from policymakers in China despite its slew of stimulus measures.
Stocks in Singapore .STI were down 0.5%, while Thai shares .SETI lost 0.4%.
Elsewhere, South Korean stocks .KS11 rose 0.7%, while Taiwan shares .TWII were up 0.5%.
Investors now await monthly inflation data from Singapore and Malaysia due later in the week.
HIGHLIGHTS:
** Thailand says investment pledges at 10-year high in Jan-Sept
** Vietnam PM says aiming to lift 2024 growth above 7%
Asian currencies and stocks at 0449 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +0.13 | -5.53 | .N225 | 0.17 | 16.68 |
China | CNY=CFXS | -0.01 | -0.08 | .SSEC | 0.82 | 10.53 |
India | INR=IN | -0.01 | -1.03 | .NSEI | -0.26 | 14.08 |
Indonesia | IDR= | -0.06 | -0.48 | .JKSE | 0.30 | 7.02 |
Malaysia | MYR= | +0.05 | +6.74 | .KLSE | -0.07 | 13.07 |
Philippines | PHP= | +0.09 | -3.56 | .PSI | -0.14 | 14.81 |
S.Korea | KRW=KFTC | -0.12 | -6.05 | .KS11 | 0.72 | -1.61 |
Singapore | SGD= | -0.05 | +0.63 | .STI | -0.45 | 11.84 |
Taiwan | TWD=TP | +0.42 | -3.80 | .TWII | 0.45 | 31.57 |
Thailand | THB=TH | -0.35 | +2.77 | .SETI | -0.39 | 4.81 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Ayushman Ojha in Bengaluru; Editing by Jamie Freed
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
