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Ambar Warrick

SE Asia Stocks-Most markets fall on weak China data; Singapore edges up

12 Jul 2019

* Singapore stocks inch up on hopes of policy easing * Thai stocks hurt by cenbank steps on capital flows * SE Asia stocks largely unchanged for the week By Ambar Warrick July 12 Most Southeast Asian stock markets ended lower on Friday after weak trade data from China, the region's biggest trading partner, spelt further weakness for the broader Asian economy. China's June exports fell and imports shrank more than expected as a trade tiff with the United States continued to erode demand in the country. Fears of a resurgence in trade tensions also weighed on regional stocks after U.S. President Donald Trump said in a tweet that China was not living up to promises it made on buying agricultural products from American farmers. Local stock indexes closed the week largely unchanged as buying in anticipation of U.S. monetary easing was offset by weaker economic readings. Investors now await second-quarter GDP data from China due on Monday. A Reuters poll sees growth slowing to its weakest pace in at least 27 years. Indonesian stocks closed 0.7% lower and led regional losses, with the maximum pressure on the benchmark coming from consumer staples and telecommunication stocks. Telekom Indonesia closed more than 2% lower, while cigarette maker Gudang Garam shed more than 3%. An index of the country's 45 most liquid stocks closed down 0.9%. Thai stocks ended 0.5% lower, with losses across all sectors. Oil and gas explorer PTT and hospital operator Bangkok Dusit Medical Services were among the largest drags on the benchmark. Equity selling in the country was exacerbated by the central bank's steps to curb short-term speculative capital flows in a bid to weaken the baht. A stronger local currency hurts the country's exports. Singapore stocks closed slightly higher as investors bet on equities benefiting from local monetary policy easing. Seven of 11 economists surveyed by Reuters expect the central bank to ease policy in October after the island state saw its slowest economic expansion in a decade for the second quarter. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3357.34 3350.45 0.21 Bangkok 1731.59 1740.45 -0.51 Manila 8141.82 8154.49 -0.16 Jakarta 6373.345 6417.066 -0.68 Kuala Lumpur 1669.45 1679.26 -0.58 Ho Chi Minh 975.4 978.63 -0.33 Change on year Market Current End 2018 Pct Move Singapore 3357.34 3068.76 9.40 Bangkok 1731.59 1563.88 10.72 Manila 8141.82 7466.02 9.05 Jakarta 6373.345 6194.498 2.89 Kuala Lumpur 1669.45 1690.58 -1.25 Ho Chi Minh 975.4 892.54 9.28 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu Sahu)

Australian shares set for strong week on easier monetary policy; NZ at record high

05 Jul 2019

July 5 Australian shares edged up on Friday and were set for strong weekly gains as easier monetary policy and recent strength in commodity prices helped lift the largest sectors on the index.

Australian shares surge to highest since Nov 2007; NZ at another peak

04 Jul 2019

July 4 Australian shares surged to their highest in more than 11-1/2 years on Thursday as further signs of weakness in the U.S. economy raised expectations the Federal Reserve will start cutting interest rates.

Australian shares buoyed by miners and real estate stocks; NZ inches up to record

03 Jul 2019

* New Zealand ends at second consecutive record high (Updates to close)

Australian shares rise but bank stocks cap gains; NZ flat

03 Jul 2019

July 3 Australian shares rose on Wednesday, supported by consumer and commodity stocks, but heavyweight banking shares fell on fears of stricter lending policies.

Australian bank shares pare index gains; NZ hits another record high

02 Jul 2019

* Miners advance on record iron ore prices (Updates to close)

Miners lift Australian shares before RBA decision; NZ at record high

02 Jul 2019

July 2 Australian shares were up slightly on Tuesday led by gains for heavyweight miners, although trading was subdued as many investors held back ahead of an interest rate decision by the central bank.

Australian shares gain on U.S.-China ceasefire and RBA cut hopes; NZ flat

01 Jul 2019

July 1 Australian shares started the week higher as a U.S.-China trade ceasefire prompted risk-on buying, while the possibility of a local interest rate cut also lent support to equities.

Most Asian currencies edge up, baht is best quarterly performer

28 Jun 2019

Most emerging Asian currencies inched up on Friday on hopes the meeting of the presidents of China and the United States will increase risk appetites, but many traders remained cautious.

EM ASIA FX-Mixed cues on U.S.-China trade row keep Asian currencies in tight ranges

27 Jun 2019

* Thai baht unchanged after C.Bank holds rates * Indian rupee slips after Trump tweets (Adds text, updates prices) By Ambar Warrick June 27 Most Asian currencies moved in tight, guarded ranges on Thursday as mixed signals on the U.S.-China trade front added to investors' jitters ahead of the G20 summit in Japan. U.S. President Donald Trump said on Wednesday that while a trade deal with the Chinese President Xi Jinping was possible during the summit, he was prepared to impose tariffs on virtually all remaining Chine imports. Meanwhile, The South China Morning Post, citing sources, said that Washington and Beijing were laying out an agreement that would help avert the next round of tariffs. The news caused some buying in Asian equities. On the currency front, the Chinese yuan was largely flat in anticipation of the meeting. The People's Bank of China set its daily mid-point at a slightly higher than expected fixing. Industrial profits in the country rose in May, pointing to some strength in the import-heavy sector. However, analysts were unsure if the modest gains could last. The Indian rupee dropped 0.12% after Trump, on Twitter, cited India's recent tariff hike on U.S. imports as "unacceptable". Earlier in the month, India had imposed higher retaliatory tariffs on 28 U.S. products after Washington ended its preferential trade treatment for the country. The Taiwan dollar rose 0.23% to the dollar, driven mainly by inflows to the country's equities, which gained after three straight sessions of losses. The Thai baht, emerging Asia's best performer this year, inched slightly up against the dollar after the country's central bank held its benchmark interest rate. The currency appeared to be unperturbed by the bank cutting its 2019 economic growth and exports forecast. The central bank even flagged that the baht's strength may not be in line with economic fundamentals. With the last trading day of the quarter landing on Friday, Asian currencies will likely see some positioning for the next six months. CURRENCIES VS U.S. DOLLAR Change on the day at 0519 GMT Currency Latest bid Previous day Pct Move Japan yen 108.080 107.77 -0.29 Sing dlr 1.355 1.3544 -0.04 Taiwan dlr 31.068 31.140 +0.23 Korean won 1157.500 1156.6 -0.08 Baht 30.760 30.775 +0.05 Peso 51.380 51.35 -0.06 Rupiah 14165.000 14170 +0.04 Rupee 69.233 69.15 -0.12 Ringgit 4.150 4.145 -0.12 Yuan 6.879 6.8803 +0.02 Change so far in 2019 Currency Latest bid End 2018 Pct Move Japan yen 108.080 109.56 +1.37 Sing dlr 1.355 1.3627 +0.58 Taiwan dlr 31.068 30.733 -1.08 Korean won 1157.500 1115.70 -3.61 Baht 30.760 32.55 +5.82 Peso 51.380 52.47 +2.12 Rupiah 14165.000 14375 +1.48 Rupee 69.233 69.77 +0.78 Ringgit 4.150 4.1300 -0.48 Yuan 6.879 6.8730 -0.09 (Reporting by Ambar Warrick in Bengaluru; Editing by Kim Coghill)

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