AGL 38.20 Increased By ▲ 0.05 (0.13%)
AIRLINK 129.30 Increased By ▲ 4.23 (3.38%)
BOP 7.85 Increased By ▲ 1.00 (14.6%)
CNERGY 4.66 Increased By ▲ 0.21 (4.72%)
DCL 8.35 Increased By ▲ 0.44 (5.56%)
DFML 38.86 Increased By ▲ 1.52 (4.07%)
DGKC 82.20 Increased By ▲ 4.43 (5.7%)
FCCL 33.64 Increased By ▲ 3.06 (10.01%)
FFBL 75.75 Increased By ▲ 6.89 (10.01%)
FFL 12.83 Increased By ▲ 0.97 (8.18%)
HUBC 110.72 Increased By ▲ 6.22 (5.95%)
HUMNL 14.03 Increased By ▲ 0.54 (4%)
KEL 5.22 Increased By ▲ 0.57 (12.26%)
KOSM 7.69 Increased By ▲ 0.52 (7.25%)
MLCF 40.08 Increased By ▲ 3.64 (9.99%)
NBP 72.51 Increased By ▲ 6.59 (10%)
OGDC 189.18 Increased By ▲ 9.65 (5.38%)
PAEL 25.74 Increased By ▲ 1.31 (5.36%)
PIBTL 7.38 Increased By ▲ 0.23 (3.22%)
PPL 153.45 Increased By ▲ 9.75 (6.78%)
PRL 25.52 Increased By ▲ 1.20 (4.93%)
PTC 17.92 Increased By ▲ 1.52 (9.27%)
SEARL 82.50 Increased By ▲ 3.93 (5%)
TELE 7.63 Increased By ▲ 0.41 (5.68%)
TOMCL 32.50 Increased By ▲ 0.53 (1.66%)
TPLP 8.48 Increased By ▲ 0.35 (4.31%)
TREET 16.74 Increased By ▲ 0.61 (3.78%)
TRG 56.01 Increased By ▲ 1.35 (2.47%)
UNITY 28.85 Increased By ▲ 1.35 (4.91%)
WTL 1.34 Increased By ▲ 0.05 (3.88%)
BR100 10,684 Increased By 595 (5.9%)
BR30 31,445 Increased By 1935.9 (6.56%)
KSE100 99,269 Increased By 4695.1 (4.96%)
KSE30 31,032 Increased By 1587.6 (5.39%)

Most Asian currencies were firmer on Monday as the dollar weakened broadly after disappointing wage data raised questions about the pace of US interest rate increases next year. The dollar index, which tracks the greenback against a basket of six major rival currencies, was down 0.08 percent at 93.827.
November's employment report showed US nonfarm payrolls rose by 228,000 jobs last month, better than expected, while average hourly earnings rose five cents or 0.2 percent. Anaemic earnings growth is likely to keep the Fed wary about raising rates too fast, Mizuho bank said in a report.
The Philippine peso led regional gainers on Monday, rising more than quarter of a percent, bolstered by a rating upgrade by Fitch. Fitch Ratings raised the Philippines' sovereign credit rating, citing the nation's strong economic performance and policies and pointing to no immediate impact on investment from President Rodrigo Duterte's deadly war on drugs.
The Indian rupee edged up on the back on strong foreign inflows. While most regional equity markets witnessed foreign outflows, Indian equities have received inflows of about $150 million this month, exchange data showed. China's yuan inched up following a firmer midpoint rate, while the Malaysian ringgit and the South Korean won also advanced on the day.
Stephen Innes, head of Asian trading at currency broker Oanda, said he is most positive on the ringgit among Asian currencies. "I am convinced that we are going towards a rate hike in January, which is a positive for the ringgit. I am also of the view, the government and the BNM are favouring a stronger currency." Innes said.
The ringgit has risen more than 3 percent against the dollar, over the past month. The central banks of Indonesia and Philippines will meet to review rates on Thursday and most analysts expect both to stand pat.
However, a few did not rule out the possibility of them turning hawkish. "We maintain our view that Bangko Sentral ng Pilipinas (BSP) will hike rates by 100 basis points by end-2018, the first 25 basis points of which may come this week," said DBS in a report.
China's strong trade data, released at the end of last week, also boosted regional currencies on the day. Exports in November rose 12.3 percent year-on-year, the fastest pace in eight months, led by strong sales of electronics and high-tech goods, while commodity purchases helped lift imports.

Comments

Comments are closed.