* Taiwan shares up 1.5% * Rupiah, shares up after Indonesia Q1 GDP beats forecasts * Philippine, Taiwan CPI due on Tuesday By Ayushman Ojha May 6 (Reuters) - Equities in Asia climbed on Monday after rallying last week, as the U.S. Federal Reserve's dovish tilt and cooler-than-expected jobs data renewed wagers of rate cuts later in the year, while the Indonesian rupiah firmed after solid GDP data. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%. It had climbed 2.2% last week. Trading was thin on Monday with financial markets of Japan, South Korea, and Thailand being closed. Taiwan shares rose as much as 1.5%, while stocks in Indonesia added as much as 0.6% after the Southeast Asian economy grew at the fastest pace in three quarters and slightly better than expected. In the Philippines, shares were up as much as 1%. The country's April inflation data is due on Tuesday, where the central bank expects annual inflation to come in between 3.5% to 4.3%. The Philippine central bank governor said the Bangko Sentral ng Pilipinas has leeway to keep policy settings unchanged this month even if the April inflation reading comes in at 4%. "There was some pressure on the Philippines to stabilise the peso but the signal so far is that they are reluctant to hike rates and adapt a wait-and-see attitude," said Moh Siong Sim, FX strategist at Bank of Singapore. Elsewhere, Singapore stocks rose as much as 0.5%, while Malaysian shares touched a fresh two-year high with a 0.4% gain. Regional currencies were mixed after data on Friday showed U.S. job growth slowed more than expected in April with the Fed signalling it was still leaning towards eventual rate cuts. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in. The broad MSCI emerging markets currency index was up 0.2%, after gaining 0.5% in the last week. The Indonesian rupiah was 0.3% higher, while the Taiwanese dollar gained 0.1%. The yen weakened 0.6%, after the strongest weekly gain in more than 17 months last week on suspected intervention from Japanese authorities to stop a sharp slide in the currency. While mainland Chinese markets were closed for three days last week, the offshore yuan eased 0.4% on Monday, after gaining more than 1% last week. It was last down at 7.2175 per dollar. In other regional currencies, the Malaysian ringgit was largely flat, while the Philippine peso inched 0.1% lower. Market participants also await Taiwan's April inflation data due on Tuesday and Malaysia's key rate decision on Thursday. HIGHLIGHTS: ** Economic leaders of S.Korea, Japan, China say FX volatility is a risk ** Philippines says won't raise South China Sea tensions, won't use water cannons ** Bank Indonesia confident rupiah will strengthen into year-end, governor says Asia stock indexes and currenc ies at 0459 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD X S S YTD % % DAILY % % Japan -0.61 -8.3 <.N2 - 14.26 5 25> China1 EC> India -0.04 -0.3 <.NS -0.08 3.34 0 EI> Indones +0.33 -3.9 <.JK 0.21 -1.69 ia 4 SE> Malaysi -0.02 -3.1 <.KL 0.28 9.58 a 4 SE> Philipp -0.14 -3.1 <.PS 0.93 3.52 ines 8 I> S.Korea 9 11> Singapo -0.16 -2.4 <.ST 0.26 1.89 re 0 I> Taiwan +0.12 -4.9 <.TW 1.06 14.59 6 II> Thailan - -6.9 <.SE - -3.24 d 5 TI> (Reporting by Ayushman Ojha in Bengaluru; Editing by Jacqueline Wong)
Delayed 12:21:17 2024-05-18 am EDT | 5-day change | 1st Jan Change | ||
0.6692 USD | 0.00% | +1.38% | -1.73% |
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Stocks mentioned in the article
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5d. change
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Capi.
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1,649 PTS | -1.05% | -.--% | - | ||
1.27 USD | 0.00% | +1.43% | - | ||
0.7342 USD | 0.00% | +0.42% | - | ||
0.6692 USD | 0.00% | +1.38% | - | ||
0.6133 USD | 0.00% | +1.91% | - | ||
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