* Taiwan dollar leads gains among Asian FX * BoT and BoK expected to stand pat on rates this week * India markets closed for public holiday By Archishma Iyer Nov 27 (Reuters) - Most Asian currencies started the week on a subdued note with the Taiwan dollar leading gains on Monday, while emerging Asian equities slipped as investors awaited further clues on the outlook for inflation globally. Market participants will look forward to the U.S. Personal Consumption Index and inflation data from the Europe later this week, which will result in opportunities for their respective central banks to ease their hawkish stances. "The recent U.S. data have been mixed and until we see a string of stronger data, the dollar is likely to remain under pressure," Win Thin, Global Head of Currency Strategy at Brown Brothers Harriman said. "EM could gain near term, but the global backdrop of slow growth and tight liquidity is not conducive to a sustainable rally." Data last week showed U.S. business activity held steady in November, but employment in the private sector declined. The Taiwan dollar rose about 0.2%, and is up about 2.6% since the start of November, headed for its best month since January. "It’s been about positioning and catch up. The last two weeks have been about beta and USD position unwinding in the region, and we think it’s not yet about fundamental convictions," Natwest analysts wrote. "...TWD was the clearest example of long USD positioning being unwound," they added. Other currencies including the Thailand baht, Singapore dollar and the Malaysian ringgit traded flat. South Korea and Thailand are set to announce their respective policy decisions later this week, where both central banks are expected to stand pat on rates. Both currencies are presently the best performing emerging Asia units during the quarter, up as much as 3.1%. The South Korean won has logged the highest gains for the month as well, up 2.7%. The MSCI International Emerging Market Currency Index has gained 2.3% in November, poised for its best month since the start of the year, but was down about 0.2% on Monday. Among Asian equities, stocks in Singapore, Malaysia and Thailand were down in the range of 0.2% and 0.6%. Markets in India were closed for a public holiday. HIGHLIGHTS: ** Indonesia's benchmark 10-year yield rises to 6.715% ** China needs to boost financial support for private firms - PBOC-led statement ** Thailand's employment growth weakest in 5 quarters in Q3 as economy slows Asia stock indexes and currencies at 0406 GMT COUNTRY FX RIC FX FX YTD INDEX STOCK STOCK DAILY % % S S YTD DAILY % % Japan +0.32 -11.98 -0.60 28.0 9 China -0.06 -3.54 -0.76 -2.31 India - -0.78 - 9.33 Indonesia +0.13 +0.16 0.31 2.64 Malaysia +0.11 -5.94 -0.19 -2.96 Philippine -0.13 +0.27 - -4.52 s S.Korea -0.04 -3.24 -0.17 11.45 Singapore +0.07 +0.10 -0.38 -5.18 Taiwan +0.15 -2.76 -0.41 21.78 Thailand +0.13 -1.92 -0.60 -16.7 6 (Reporting by Archishma Iyer in Bengaluru; Editing by Lincoln Feast.)
MSCI TAIWAN (STRD)
Index
End-of-day quote MSCI 15:00:00 10/05/2024 BST | 5-day change | 1st Jan Change | ||
719.3 USD | +1.02% | +2.75% | +12.60% |
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Stocks mentioned in the article
Price
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Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,728 PTS | +0.54% | -0.01% | - | ||
1,370 KRW | +0.13% | +0.51% | - | ||
1,002 KRW | +0.39% | +1.23% | - | ||
904.4 KRW | +0.06% | +0.99% | - | ||
719.3 USD | +1.02% | +2.75% | - | ||
319.3 GBX | +0.47% | +4.69% | 34.85B | ||
21.39 TWD | -0.07% | +0.35% | - | ||
16.4 KRW | +0.10% | +0.40% | - | ||
1.252 USD | 0.00% | -0.19% | - | ||
1.077 USD | -0.11% | +0.07% | - | ||
0.7309 USD | 0.00% | +0.08% | - | ||
0.6019 USD | +0.02% | +0.17% | - | ||
0.012 USD | -0.04% | 0.00% | - | ||
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