* US CPI a touch above expectations * Singapore shares at over 1-week high * Asian equity markets up except Malaysia By Rishav Chatterjee Sept 14 (Reuters) - Asian emerging currencies and equity markets rose on Thursday on cautiously optimistic trading after U.S. inflation data pointed towards the Federal Reserve pausing interest rate hikes. The South Korean won was one of the major gainers against the dollar, rising 0.4%, with the benchmark index in Seoul adding 1% on the back of strength from chip and battery makers. South Korea's central bank said on Thursday it needs to make coordinated efforts to contain household debt, which is at levels that could undermine economic growth and financial stability. Overnight data from U.S. showed higher fuel prices had lifted headline consumer prices by the most in 14 months in August, for an annual rate of 3.7% that was a touch above expectations. "A breakdown into the components point to a relatively benign inflation picture thus far. Sequential measures suggest that inflation is still cooling," said Eugene Leow, senior rates strategist at DBS. "The CPI print still does not provide sufficient clarity on Fed action through to the end of the year," Leow added. ANZ analysts said in a note viewed the Fed to be done with its tightening cycle, although there was some risk of further hikes. The Singapore dollar gained about 0.1% while stocks in its benchmark index jumped 0.5% to the highest level in more than a week. The Thai baht remained relatively unchanged during the day, even though consumer confidence rose in August, helped by tourism and following the end of prolonged political uncertainty, a survey showed. Stocks in Bangkok tracked the broader mood, rising 0.4%. Investors will also turn towards the European Central Bank (ECB) meeting and its new inflation forecasts as Europe continues to face rising cost pressures coupled with soaring energy prices. "The ECB is expected to keep rates steady, although it will be a close decision. While headline inflation is sitting just below the ECB's projection for 2023, core inflation remains more stubborn," Westpac analysts said. The Chinese yuan was steady at 7.2718 per dollar. "China will increase bill sales in Hong Kong to soak up yuan liquidity making it more expensive to short the currency," said Tapas Strickland, an economist at National Australia Bank. "This is the latest in a series of measures undertaken by the PBOC aimed at stabilising the yuan and to discourage speculative short positions," Strickland added. Among regional equity markets, Indonesia gained 0.3%, while Taiwan stocks added 1.1%. The benchmark index in the Philippines rose 0.5%. Malaysia was the only laggard in the region with a 0.2% fall. Asia stock indexes and currencies at 0408 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD % X S S YTD % DAILY % % Japan +0.24 -10.8 <.N2 1.16 26.79 7 25> ChinaEC> India +0.05 -0.27 <.NS 0.35 11.24 EI> Indones +0.10 +1.40 <.JK 0.31 1.55 ia SE> Malaysi -0.04 -5.96 <.KL -0.24 -3.03 a SE> Philipp +0.07 -1.80 <.PS 0.52 -5.87 ines I> S.Korea 11> Singapo +0.13 -1.42 <.ST 0.52 -0.49 re I> Taiwan +0.30 -3.65 <.TW 1.07 18.53 II> Thailan +0.01 -3.07 <.SE 0.38 -7.64 d TI> HIGHLIGHTS: ** Thai consumer confidence rises in Aug after end of political uncertainty ** POLL-Indonesia's August trade surplus seen widening to $1.55 bln (Reporting by Rishav Chatterjee in Bengaluru; Editing by Jamie Freed)
Delayed 09:51:17 01/06/2024 am IST | 5-day change | 1st Jan Change | ||
0.6652 USD | 0.00% | +0.79% | -2.32% |
31/05 | 'Is the Fed even driving the bus?' | RE |
31/05 | Equities Mostly Rise as Fed's Preferred Inflation Measure Meets Street Views | MT |
Stocks mentioned in the article
Price
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Change
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5d. change
|
Capi.
| ||
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2,772 PTS | +1.70% | +0.64% | - | ||
1,385 KRW | +0.23% | +1.41% | - | ||
1,014 KRW | +0.00% | +1.95% | - | ||
919.2 KRW | +0.94% | +1.92% | - | ||
736.3 USD | -1.26% | -4.00% | - | ||
33.91 AUD | +0.89% | -0.15% | 69.67B | ||
16.6 KRW | +0.23% | +1.23% | - | ||
9.225 CNY | -0.02% | +0.34% | - | ||
7.854 CNY | +0.28% | +0.31% | - | ||
7.261 CNH | +0.15% | +0.06% | - | ||
7.241 CNY | +0.00% | +0.00% | - | ||
5.313 CNY | -0.00% | +0.75% | - | ||
4.817 CNY | +0.00% | +0.71% | - | ||
1.72 SGD | 0.00% | +0.29% | - | ||
1.466 SGD | +0.02% | +0.27% | - | ||
1.351 SGD | 0.00% | -0.06% | - | ||
1.274 USD | 0.00% | +0.38% | - | ||
1.174 EUR | -0.08% | +0.03% | - | ||
1.084 USD | +0.13% | +0.31% | - | ||
0.9221 EUR | -0.13% | -0.30% | - | ||
0.7333 USD | +0.36% | +0.71% | - | ||
0.6767 EUR | -0.00% | +0.48% | - | ||
0.6652 USD | 0.00% | +0.79% | - | ||
0.6142 USD | 0.00% | +0.75% | - | ||
0.6132 EUR | +0.20% | +0.46% | - | ||
0.0868 CNY | +0.00% | -0.23% | - | ||
0.0162 SGD | -0.04% | -.--% | - | ||
0.012 USD | -0.14% | -.--% | - | ||
0.011 EUR | -0.27% | -0.90% | - | ||
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