AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Asian currencies strengthened on Thursday with investors in the region encouraged by China's plans to boost infrastructure spending, although sustained strength in the US economy still threatened to draw money away from emerging markets. China said it will boost domestic infrastructure spending to combat a perceived slowdown in its economy. Stronger growth in Asia's biggest economy could shore up interest in regional markets.
Chang Wei Liang, FX strategist at Mizuho Bank in Singapore, said Beijing's measure were "likely to provide some relief in terms of current anxiety over China's growth outlook, (which) will be positive for Asian currencies."
The Chinese yuan rose about 0.11 percent to about 6.966 a dollar. A Reuters poll observed that Chinese authorities were likely to defend the yuan from weakening past the psychological 7 per dollar rate, although some participants did expect the currency to breach that level.
China's factory sector barely grew last month after stalling in September, a private survey showed, while an extended contraction in export orders highlighted rising pressure on the economy as a trade war with the United States intensified.
The Indian rupee recovered from Wednesday's drop after the Indian government soothed investors by affirming its belief in the autonomy of the central bank. Reports of a heated row between the Indian government and the Reserve Bank of India had rattled the rupee and investors in equities.
Philippine markets were closed for the rest of the week on account of a holiday and the peso saw little trade. However, the currency had surged to a two-month high late Wednesday on increased domestic demand ahead of the long weekend.
The Thai baht gained as much as 0.51 percent to 32.98 a dollar, and led intraday gains among its peers. "Our bias is still for the Bank of Thailand (BoT) to be looking at a rate hike by the end of the year and that's likely to anchor support for the baht," Mizuho's Chang added.
The BoT had held its benchmark rate in Spetember, but a growing rift among members had hinted at possible policy tightening in the near term. However, Thailand's inflation in October came in slightly below expectations.

Copyright Reuters, 2018

Comments

Comments are closed.