Asian FX, stocks muted on revised Fed rate-cut bets, US vote uncertainty
Updates at 0720 GMT
South Korean won hits 3-month low
U.S. dollar up for four straight weeks
Thai stocks eye worst week in four months
By Aaditya GovindRao and Roushni Nair
Oct 25 (Reuters) -The Philippine peso and Indonesian rupiah led declines among Asian currencies on Friday, extending recent losses on bets the U.S. Federal Reserve will slow rate cuts, while regional stocks were mixed on uncertainty about the U.S. election outcome.
The peso PHP= fell 0.7% to 57.92 per U.S. dollar, a level last seen on Aug. 2, while the rupiah IDR= was down 0.4%, as of 0646 GMT.
The Malaysian ringgit MYR= reversed course to trade 0.2% higher, after edging down 0.1% earlier and on track for fourth straight week of declines, its longest such run in a year.
The dollar index =USD was largely unchanged at 104.04, after reaching a three-month high of 104.57 earlier this week. The index is on track for a 3.6% gain since the week ended Sept. 23, and poised to record its strongest weekly performance since Sept. 30. USD/
The greenback strengthened as investors revised interest rate cut expectations and factored in a potential second Trump presidency, which could bring inflationary policies, slower rate cuts, and pressure on trading partners' currencies.
The market was completely pricing in a cut of at least 25 basis points a month ago, with a 58.2% chance of a 50-bp cut, according to CME's FedWatch Tool.
"As the U.S. elections approach and Trump trades are being implemented, the dollar is likely to remain on the front foot and the U.S. rates are likely to remain elevated, creating a somewhat painful backdrop for EM assets," analysts at Barclays said.
The rupiah has fallen 1.1% this week, set for its worst week since Sept. 30.
However, the reappointment of Sri Mulyani Indrawati as the finance minister in the newly sworn-in President Prabowo Subianto's cabinet - signals policy continuity to investors.
The Thai baht THB=TH has fallen nearly 1.5% this week and slipped as much as 0.5% earlier in the day, before recouping some losses to trade 0.3% lower.
Bank of Thailand Deputy Governor Piti Disyatat told Reuters in an interview that the country's low and well-anchored inflation poses no risk of deflation.
The Korean won KRW=KFTC declined up to 0.6% to its lowest level since July 19. Local media reported South Korea's finance minister had flagged risks to growth forecasts.
Stocks in Bangkok .SETI were up 0.2% but were on track for their worst week since early June, down nearly 1.8%. Singapore equities .STI fell 0.5% and were set for their biggest weekly loss since early August.
HIGHLIGHTS:
** Japan's general election outcome could muddle BOJ plans
** Singapore's September manufacturing output up 9.8%, more than expected
Asian stocks and currencies as at 0646 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.07 | -7.15 | .N225 | -0.60 | 13.90 |
China | CNY=CFXS | -0.08 | -0.40 | .SSEC | 0.45 | 10.75 |
India | INR=IN | 0.00 | -1.03 | .NSEI | -1.07 | 11.08 |
Indonesia | IDR= | -0.38 | -1.54 | .JKSE | -0.14 | 5.96 |
Malaysia | MYR= | +0.18 | +5.83 | .KLSE | -0.15 | 12.03 |
Philippines | PHP= | -0.70 | -5.04 | .PSI | 0.26 | 13.22 |
S.Korea | KRW=KFTC | -0.46 | -7.25 | .KS11 | 0.09 | -2.71 |
Singapore | SGD= | -0.15 | -0.05 | .STI | -0.50 | 10.70 |
Taiwan | TWD=TP | +0.02 | -4.19 | .TWII | 0.67 | 30.21 |
Thailand | THB=TH | -0.25 | +1.21 | .SETI | 0.21 | 3.38 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Aaditya Govind Rao and Roushni Nair in Bengaluru; Editing by Sonali Paul and Rashmi Aich
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
