Asian FX subdued amid weaker dollar, Taiwan trade data awaited

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Asia’s emerging currencies traded flat to

marginally higher against a weaker dollar on Tuesday, as the

possibility of a delay in monetary policy tapering in the United

States put pressure on the greenback.

The Singapore dollar, Malaysian ringgit and

Thai baht traded flat to slightly higher, while the

South Korean won dipped 0.1%.

“More consolidative moves are appearing among EM Asia FX in

recent days, as earlier positives run out of steam,” analysts at

Maybank said in a note.

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Taiwan’s inflation and trade data for August is expected

later in the day. A survey conducted by Reuters showed that the

island’s exports likely rose for a 14th straight month in

August, boosted by strong demand for electronics goods.

Separately, the island’s consumer price index is expected to

rise 1.9% from a year earlier, compared with an increase of

1.95% in July.

The Taiwan dollar, which is among the best

performing currencies in the region this year, added 0.2%, while

the Indonesian rupiah added 0.3%.

A senior cabinet minister in Indonesia said COVID-19

restrictions will be eased in more cities on Java, its most

populous island, as infections subside.

The dollar hovered near recent lows, after

weaker-than-expected jobs data released on Friday raised chances

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of the Fed delaying a tapering of its monetary stimulus.

Customs data in China showed exports grew faster than

expected in August, as solid global demand offset some of the

pressure on the world’s second-biggest economy from a resurgence

of domestic COVID-19 cases and supply bottlenecks.

Chinese equities gained 0.8%, while the yuan

edged 0.1% higher.

Stocks in South Korea fell 0.6%, dragged down by a

tech sell-off, while India and Thailand gained

0.1% and 0.4%, respectively.

Government data in Philippines showed that the country’s

annual inflation in August accelerated to 4.9%, the

highest since December 2018, driven up by gains in the heavily

weighted food and non-alcoholic beverages index.

Philippine stocks were up 0.6%, hitting their highest

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since mid-July. The peso traded relatively flat.

Highlights

** Indonesian 10-year benchmark yields are up 0.9 basis

points at 6.102%

** In the Philippines, top index gainer was Globe Telecom

Inc, up 3.63%

** Orient Bio Inc top loser in the Korea SE

Kospi Index

Asia stock indexes and currencies at

0354 GMT

COUNTRY FX RIC FX FX INDEX STOCKS STOCK

DAILY YTD % DAILY S YTD

% % %

Japan +0.02 -5.98 0.78 8.91

China +0.05 +1.14 0.77 5.08

India 0.00 -0.06 0.14 24.46

Indonesia +0.24 -1.03 -0.07 2.40

Malaysia +0.02 -3.02 0.09 -2.72

Philippines +0.06 -3.75 0.61 -3.09

S.Korea -0.08 -6.15 -0.75 10.65

Singapore +0.05 -1.54 -0.19 8.84

Taiwan +0.22 +3.20 -0.32 18.38

Thailand +0.03 -7.70 0.38 14.17

(Reporting by Harish Sridharan in Bengaluru)

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