* Rupiah at lowest in 12 weeks * China stocks lead gains * Equities largely mixed By Roushni Nair Jan 25 (Reuters) - The Indonesian rupiah touched a near 3-month low in otherwise muted Southeast Asian currency trade on Thursday while China's latest move to inject liquidity to support ailing share prices helped to limit losses for range-bound equities in the region. The Indonesian rupiah had slipped 0.6% by 0355 GMT to its lowest level since Nov. 3. The Singapore dollar and the Philippine peso were little changed. Investor confidence in the rupiah has faltered amid concerns ahead of a presidential election on Feb. 14. The country's central bank has intervened in the foreign exchange market to ensure a balance is maintained between supply and demand, a central bank official told Reuters. The dollar was holding steady near a six-week high against a basket of key currencies, as market participants keenly awaited the release of fourth-quarter U.S. gross domestic product figures later in the day and the personal consumption expenditure (PCE) price index on Friday to gauge the Federal Reserve's monetary policy stance when it meets next week. "We expect the USD to remain supported but near-term USD outlook is more balanced following a recent rebound," analysts at Bank of Singapore said in a note, adding that the dollar's latest gains would be seen more as a recalibration than as a new bullish trend. In Asia, the MSCI's index of emerging market (EM) equities , which captures large and mid-cap representation across 24 EM countries, rose 0.6% to a one-week high. Stocks in Taipei and Kuala Lumpur advanced 0.6%, each, although shares in Manila and Singapore dipped more than 0.3%. Equities in Shanghai rose 2.06%, clocking their biggest intraday gain since August last year, after the People's Bank of China decided to slash bank reserves by the most in two years. A report on Tuesday that Chinese authorities are considering a rescue package to stabilise the slumping stock market has improved sentiment and helped to provide some relief to the equities market. In Thailand, political tensions rose after Prime Minister Srettha Thavisin on Wednesday reasserted that the economy is in crisis, although the central bank governor disagreed with his outlook. The bank's governor told Reuters that the government's quick stimulus measures would not fix structural issues plaguing Southeast Asia's second-biggest economy. HIGHLIGHTS: ** Markets in Malaysia closed for a public holiday ** Indonesia c.bank in FX market to ensure balanced supply-demand ** South Korea's economy grew faster than expected in Q4 Asia stock indexes and currencies at 0352 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan -0.10 -4.46 0.049 8.89 ChinaIndia +0.00 +0.11 0.00 -1.27 Indonesi -0.41 -2.38 0.14 -0.48 a Malaysia - -2.94 - 3.40 Philippi +0.05 -1.48 -0.37 3.18 nes S.Korea Singapor -0.03 -1.55 -0.36 -3.03 e Taiwan +0.18 -1.77 0.71 0.40 Thailand -0.14 -4.49 -0.59 -3.02 (Reporting by Roushni Nair in Bengaluru; Editing by Edmund Klamann)
Delayed 11:00:00 2024-07-03 pm EDT | 5-day change | 1st Jan Change | ||
0.012 USD | -0.01% | 0.00% | 0.00% |
05:07am | Rupee to inch up on relief for Asia FX after weak US data | RE |
03:11am | Dollar on the defensive after soft data, little relief for yen | RE |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,883 PTS | +0.37% | +3.19% | - | ||
820.7 USD | +1.28% | +0.57% | - | ||
7.271 CNY | +0.02% | +0.03% | - | ||
3.88 HKD | +1.31% | +2.11% | 179B | ||
1.724 SGD | -0.04% | +0.41% | - | ||
1.459 SGD | -0.09% | +0.34% | - | ||
1.353 SGD | -0.03% | -0.39% | - | ||
1.275 USD | -0.01% | +0.81% | - | ||
1.079 USD | -0.04% | +0.74% | - | ||
0.7329 USD | -0.01% | +0.41% | - | ||
0.6109 USD | +0.03% | +0.41% | - | ||
0.0162 SGD | -0.03% | -0.61% | - | ||
0.012 USD | -0.01% | 0.00% | - | ||
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