【what is produced crossword clue】EM ASIA FX-Most Asian currencies decline as factory activity fizzles

时间:2024-09-29 12:29:12 来源:freezing cookies with royal icing

* China's Dec factory data contracts for first time in 19

mths

【what is produced crossword clue】EM ASIA FX-Most Asian currencies decline as factory activity fizzles


* Indonesian rupiah weakens 0.7 pct

【what is produced crossword clue】EM ASIA FX-Most Asian currencies decline as factory activity fizzles


* Thai baht strengthens 0.7 pct

【what is produced crossword clue】EM ASIA FX-Most Asian currencies decline as factory activity fizzles


(Adds text,what is produced crossword clue updates prices)


By Niyati Shetty


Jan 2 (Reuters) - Most Asian currencies fell on Wednesday,


shrugging off broad U.S. dollar weakness as gloomy factory


surveys added to worries about cooling regional and global


growth.


A private survey showed manufacturing in China, the world's


second-largest economy, contracted for the first time in 19


months in December as domestic and export orders continue to


weaken.


Factory activity also shrank in South Korea, Taiwan and


Malaysia, while Singapore reported much slower fourth-quarter


economic growth than expected.


China's economy is expected to slow further in coming


quarters, adding to pressure on other Asian exporters, Mizuho


bank said in a note.


Leading declines in the region, the Indonesia rupiah


dropped 0.7 percent to 14,475.00 per dollar. The currency


weakened about 6 percent against the greenback in 2018.


The Korean won faltered 0.3 percent, while the


Taiwan dollar also softened after weak manufacturing


reports.


The Indian rupee and the Malaysian ringgit


also retreated after softer manufacturing


readings.


Bucking the trend, the Thai baht strengthened 0.7


percent to 32.40 per dollar.


Thailand's monetary policy committee expects any future


policy tightening would be gradual, minutes from its last policy


meeting showed on Wednesday.


The Bank of Thailand raised rates by 25 basis points in


December, its first rate hike since 2011, to curb risks to


financial stability.


Also firming against the dollar was the Chinese yuan


and the Philippine peso.


The yuan strengthened on the first trading day of the new


year, supported by a firmer official yuan midpoint reflecting


broad weakness in the U.S. dollar. Traders said weaker


manufacturing readings had been expected.


SINGAPORE DOLLAR


The dollar dipped as one of the region's most stable


economies begins to feel the impact of trade frictions between


the United States and China.


The city-state reported fourth-quarter economic growth that


was about half as strong as expected after the manufacturing


sector shrank. The government forecast GDP growth in 2019 in the


range of 1.5 percent and 3.5 percent.


OCBC Bank in a note to clients said the contraction in


manufacturing showed that "the softening global demand


environment was starting to weigh into the year-end."


The following table shows rates for Asian currencies against


the dollar at 0531 GMT.


CURRENCIES VS U.S. DOLLAR


Currency Latest bid Previous day Pct Move


Japan yen 109.390 109.71 +0.29


Sing dlr 1.365 1.3631 -0.12


Taiwan dlr 30.793 30.733 -0.19


Korean won 1119.500 1115.7 -0.34


Baht 32.360 32.58 +0.68


Peso 52.490 52.58 +0.17


Rupiah 14475.000 14375 -0.69


Rupee 69.663 69.45 -0.31


Ringgit 4.135 4.13 -0.12


Yuan 6.856 6.8730 +0.25


Change so far in 2019


Currency Latest bid End 2018 Pct Move


Japan yen 109.390 109.56 +0.16


Sing dlr 1.365 1.3627 -0.15


Taiwan dlr 30.793 30.733 -0.19


Korean won 1119.500 1115.70 -0.34


Baht 32.360 32.55 +0.59


Peso 52.490 52.58 +0.17


Rupiah 14475.000 14375 -0.69


Rupee 69.663 69.77 +0.15


Ringgit 4.135 4.1300 -0.12


Yuan 6.856 6.8730 +0.25


(Reporting by Niyati Shetty in Bengaluru; Editing by Kim


Coghill)


View comments


推荐内容