* Thai baht leads losses among Asian currencies * BI and BSP to announce interest rate decisions on Thursday * Stocks in Manila hit lowest level since Oct 2022 By Upasana Singh Sept 19 (Reuters) - Asian currencies were mostly weaker on Tuesday, while equity markets fell as market participants braced for a slew of monetary policy decisions from global and emerging market central banks including Indonesia and the Philippines. The Philippine peso eased 0.2% while Indonesia's rupiah, among the best performing currencies in the region so far this year, fell 0.1%. The Bangko Sentral ng Pilipinas (BSP) and Bank Indonesia (BI) are expected to keep their interest rates steady on Thursday and for the rest of the year, according to Reuters' polls. "For BSP, our base case looks for a hold but to some extent, we do not rule out the risk of a hike, as inflation reaccelerated to above its 2 – 4% band," said Christopher Wong, FX strategist at OCBC. All eyes this week are focused on the U.S. Federal Reserve's two-day policy meeting where markets expect interest rates to remain unchanged, although any hints on the central bank's outlook on rates will be closely watched. Meanwhile, Bank of Japan (BOJ) is scheduled to announce its policy decision on Friday. The central bank has come under close scrutiny recently after Governor Kazuo Ueda stoked speculation of an imminent move away from ultra-loose policy. "The BOJ could provide guidance on the time frame and indicators that they are watching for exiting its current negative interest rate policy regime," said Wei Liang Chang, FX and credit strategist at DBS Bank. "Still, the BOJ should maintain its stance of keeping policy accommodative for the time being." Oil prices rose for a fourth consecutive session on Tuesday amid tighter supplies, further weighing on the currencies of Asian net energy importers such as Thailand. The baht depreciated 0.3%. The Singapore dollar and Malaysia's ringgit fell 0.1% each. Stock markets across Asia came under pressure from concerns over the Chinese property sector. Equities in Manila were leading losses as they dropped 1.3% to hit a 10-month low. Shares in South Korea and Singapore retreated 0.6% and 0.5%, respectively. Markets in India were closed for a public holiday. HIGHLIGHTS: ** Data showed Malaysia's exports fell 18.6% in August, faster than expected ** The depreciation pressure on the Chinese yuan against the U.S. dollar is temporary, state media said, noting its value against major trading partner currencies is stable ** Japanese industry minister Yasutoshi Nishimura said the Bank of Japan's ultra-loose monetary policy, which was aimed at "buying time" to push through structural reforms, will eventually end as inflation accelerates The following table shows rates for Asian currencies against the dollar at 0439 GMT. COUNTRY FX RIC FX FX INDE STOCKS STOCKS DAILY % YTD % X DAILY YTD % % Japan -0.12 -11.2 <.N2 -0.89 27.35 7 25> ChinaEC> Indonesi -0.07 +1.24 <.JK 0.27 1.52 a SE> Malaysia -0.11 -6.22 <.KL -0.02 -2.52 SE> Philippi -0.21 -1.92 <.PS -1.29 -7.93 nes I> S.Korea 11> Singapor -0.09 -1.80 <.ST -0.50 -0.13 e I> Taiwan -0.07 -4.04 <.TW -0.08 18.02 II> Thailand -0.28 -3.31 <.SE 0.18 -8.29 TI> (Reporting by Upasana Singh in Bengaluru; Editing by Lincoln Feast.)
Delayed 02:58:14 11/05/2024 am IST | 5-day change | 1st Jan Change | ||
167.8 JPY | +0.13% | +2.09% | +7.82% |
10/05 | US Dollar Rises Early Friday Before Preliminary May Michigan Sentiment, Fed Appearances | MT |
10/05 | Govt panel members urge BOJ vigilance on weak yen's impact on demand | RE |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,728 PTS | +0.54% | -0.01% | - | ||
719.3 USD | +1.02% | +4.07% | - | ||
195 JPY | 0.00% | +1.63% | - | ||
167.8 JPY | +0.13% | +2.09% | - | ||
155.7 JPY | 0.00% | +1.80% | - | ||
113.9 JPY | -0.02% | +1.93% | - | ||
102.8 JPY | 0.00% | +1.70% | - | ||
93.75 JPY | 0.00% | +1.97% | - | ||
82.67 USD | -1.69% | -0.13% | - | ||
77.9 USD | 0.00% | +0.09% | - | ||
39.52 THB | -0.05% | +0.16% | - | ||
36.71 THB | +0.05% | -0.26% | - | ||
24.24 PTS | -0.19% | +0.26% | - | ||
7.233 CNH | +0.17% | +0.41% | - | ||
7.224 CNY | -0.02% | -0.21% | - | ||
1.865 JPY | +0.15% | +1.21% | - | ||
1.695 SGD | 0.00% | +0.18% | - | ||
1.459 SGD | +0.01% | +0.46% | - | ||
1.354 SGD | 0.00% | +0.37% | - | ||
1.252 USD | 0.00% | -0.18% | - | ||
1.077 USD | -0.11% | +0.36% | - | ||
0.7309 USD | -0.03% | +0.10% | - | ||
0.6601 USD | 0.00% | -0.11% | - | ||
0.6018 USD | 0.00% | +0.15% | - | ||
0.0162 SGD | +0.04% | 0.00% | - | ||
0.012 USD | +0.04% | 0.00% | - | ||
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