Emerging Markets: Asian currencies mostly flat ahead of Lunar New Year holiday

Singapore Technologies Engineering

31/01/2022 06:41

* China and S. Korea stock markets on holiday
    * India's stocks rise 1.4%

    Jan 31 (Reuters) - Most Asian currencies were unchanged in
thin trading on Monday ahead of a week with key Australian, UK
and European central bank meetings, while stocks firmed though
surging oil prices added to worries over inflation. 
    Most regional currencies were broadly flat against a strong
dollar buoyed by rate hike expectations. Market pricing now
suggests a more than 90% chance of at least four rate hikes by
the end of the year in the world's largest economy and a 67%
chance of at least five.  USD/ 
    Stock markets across the region moved higher on Monday, with
India  .NSEI  and Philippine stocks  .PSI  firming about 1%
each. Financial markets in China and South Korea were closed on
Monday for the eve of Lunar New Year. 
    Indian shares opened sharply higher on Monday after two
weeks of heavy losses, as beaten down technology stocks advanced
with a slew of blue chip earnings and the federal budget in
focus. India's rupee  INR=IN  rose 0.1%. urn:newsml:reuters.com:*:nL4N2UB0TM
    In China, data on Sunday showed that the country's factory
activity slowed in January as a resurgence of COVID-19 cases and
tough lockdowns hit production and demand.  urn:newsml:reuters.com:*:nL1N2UA05N
    The Shanghai Composite Index  .SSEC  has lost around 7.6%
already this year, after rising nearly 5% in 2021.
    Japan's Nikkei  .N225  bounced 1.3% from a 14-month trough,
though data on industrial output and retail sales undershot
forecasts. 
    Malaysian stocks  .KLSE  slipped 0.5% ahead of the country's
money supply data for December, while Singapore's Straits Times
Index  .STI  inched 0.1% higher. 
    
    HIGHLIGHTS
    ** Top gainers on the Singapore STI  .STI  include Genting
Singapore Ltd  GENS.SI , Singapore Technologies Engineering Ltd
 STEG.SI  and SATS Ltd  SATS.SI 
    ** Indonesian 10-year benchmark yields are down 1 basis
points at 6.454%​​      
  Asia stock indexes and                        
 currencies at   0543 GMT                       
 COUNTRY  FX RIC        FX     FX  INDE  STOCK  STOCK
                     DAILY  YTD %     X      S  S YTD
                         %               DAILY      %
                                             %  
 Japan     JPY=      -0.16  -10.5  <.N2   1.05  -6.23
                                6  25>          
 China                           EC>          
 India     INR=IN    +0.09  -2.54  <.NS   1.23  -0.24
                                   EI>          
 Indones   IDR=      -0.05  -2.45  <.JK   0.04  11.19
 ia                                SE>          
 Malaysi   MYR=      +0.02  -3.99  <.KL  -0.51  -3.53
 a                                 SE>          
 Philipp   PHP=      +0.04  -6.05  <.PS   1.51   3.11
 ines                              I>           
 S.Korea                         11>              6
 Singapo   SGD=      -0.06  -2.55  <.ST   0.10   4.03
 re                                I>           
 Taiwan    TWD=TP    -0.08  +2.35  <.TW  -0.15  -2.99
                                   II>          
 Thailan   THB=TH    -0.12  -10.4  <.SE   0.77  -0.33
 d                              1  TI>          
 

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Graphic: World FX rates     https://tmsnrt.rs/2RBWI5E
Asian stock markets    https://tmsnrt.rs/2zpUAr4
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Indranil Sarkar in Bengaluru; Editing by
Jacqueline Wong)
 ((Indranil.Sarkar@thomsonreuters.com; Mobile:  +91
7022132226;))