China stimulus lifts Asian FX; ringgit hovers near 3-year high
Malaysia ringgit hovers near Sept 2021 level
Thai baht at highest since March 2022
Taiwan dollar scales six-month high
China stocks set for best week since 2008
MSCI EM Asia equities index at 2-1/2-year high
Updates as of 0654 GMT
By Sameer Manekar
Sept 27 (Reuters) -The Malaysian ringgit and Thai baht flirted with multi-year highs on Friday as most Asian currencies gained on strong fund flows into assets that stand to benefit from China's massive stimulus aimed at reviving growth.
China's huge stimulus package, directed at pulling the world's second-largest economy out of its deflationary slump and rejuvenating growth, has been a boon for emerging Asian markets that rely on trade and tourism-linked flows from China.
"EM (Emerging Markets) and particularly China is likely to outperform as the USD weakens and investors hunt for higher returns; foresee possible rotation out of the expensive and crowded global tech trade into cheaper EM assets," said David Chao, global market strategist, Asia Pacific (ex-Japan) at Invesco.
China's yuan CNY=CFXS slipped as traders booked profits ahead of the Golden Week holidays starting next Tuesday, but hovered near its strongest level in 16 months. It has gained 0.5% this week.
Stocks in China .CSI300, .SSEC were headed for their best week since November 2008.
That helped an MSCI gauge of Asian emerging market equities .MIMS00000PUS advance to its highest level since mid-February 2022. It was set to end the week 7% higher, and the month 8% higher. China makes up more than 30% of the index.
The ringgit MYR= appreciated as much as 0.7% to 4.123 per dollar and hovered around a level last seen in September 2021.
The Thai baht THB=TH clocked its eighth straight session of gains, appreciating to 32.35 per dollar - the strongest level since early March 2022.
The baht and ringgit are among the region's best-performing currencies this month, advancing more than 4% each. The ringgit is set to log its third straight monthly gain, boosted by a confluence of factors including political stability and strong foreign inflows.
Emerging Asian stock markets were under pressure on Friday: shares in the Philippines .PSI and Indonesia .JKSE lost up to 0.7% each. Stocks in Malaysia .KLSE declined 0.8%, while those in Singapore .STI slipped 0.6%.
"It seems there is a little bit of a rotation that is happening across Asian equities with investors rotating into Hong Kong/China stocks at the expense of ASEAN, which recently had a bumper run - both in terms of performance and foreign fund flows," said Chetan Seth, Asia-Pacific equity strategist at Nomura.
"If China successfully manages to reflate itself, it is not a bad outcome for EM and Asian stocks as that rising tide will lift all boats, including ASEAN equities."
In Japan, the yen JPY=EBS traded 0.9% higher after the ruling Liberal Democratic Party chose former defence minister Shigeru Ishiba as the country's next leader. Nikkei futures NYIcm1 fell 2.8% after the leadership announcement. The Nikkei share average .N225 had ended over 2% higher earlier.
HIGHLIGHTS:
** Shanghai stock bourse investigates reasons behind abnormal and slow transactions
** Sri Lanka holds rates steady, sees rosy inflation, growth outlook
** Indonesia c.bank to stop publication of JIBOR from 2026
Asia stock indexes and currencies as of 0654 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | +1.05 | -1.56 | .N225 | 2.32 | 19.65 |
China | CNY=CFXS | -0.01 | +1.22 | .SSEC | 2.63 | 3.53 |
India | INR=IN | -0.04 | -0.56 | .NSEI | 0.06 | 20.71 |
Indonesia | IDR= | +0.18 | +1.73 | .JKSE | -0.67 | 5.77 |
Malaysia | MYR= | +0.34 | +11.25 | .KLSE | -0.58 | 14.23 |
Philippines | PHP= | +0.06 | -0.95 | .PSI | -0.41 | 15.17 |
S.Korea | KRW=KFTC | -0.05 | -2.32 | .KS11 | -0.82 | -0.21 |
Singapore | SGD= | -0.05 | +2.78 | .STI | -0.34 | 10.18 |
Taiwan | TWD=TP | +0.50 | -3.01 | .TWII | -0.16 | 27.28 |
Thailand | THB=TH | -0.19 | +5.35 | .SETI | 0.20 | 2.98 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Sameer Manekar in Bengaluru; additional reporting by Sherin Sunny and Archishma Iyer in Bengaluru; Editing by Subhranshu Sahu
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
