AIRLINK 155.38 Increased By ▲ 3.26 (2.14%)
BOP 9.69 Increased By ▲ 0.57 (6.25%)
CNERGY 7.11 Increased By ▲ 0.02 (0.28%)
CPHL 84.07 Increased By ▲ 1.78 (2.16%)
FCCL 43.44 Increased By ▲ 0.63 (1.47%)
FFL 14.79 Increased By ▲ 0.58 (4.08%)
FLYNG 30.31 Increased By ▲ 1.72 (6.02%)
HUBC 136.24 Increased By ▲ 4.30 (3.26%)
HUMNL 12.51 Increased By ▲ 0.28 (2.29%)
KEL 4.02 Increased By ▲ 0.02 (0.5%)
KOSM 5.02 Increased By ▲ 0.11 (2.24%)
MLCF 69.44 Increased By ▲ 2.39 (3.56%)
OGDC 203.25 Increased By ▲ 2.87 (1.43%)
PACE 5.06 Increased By ▲ 0.07 (1.4%)
PAEL 42.50 Increased By ▲ 1.00 (2.41%)
PIAHCLA 16.57 Increased By ▲ 0.35 (2.16%)
PIBTL 8.79 Increased By ▲ 0.37 (4.39%)
POWER 13.93 Increased By ▲ 0.88 (6.74%)
PPL 150.83 Increased By ▲ 2.23 (1.5%)
PRL 28.91 Increased By ▲ 1.20 (4.33%)
PTC 20.73 Increased By ▲ 1.27 (6.53%)
SEARL 84.04 Increased By ▲ 2.07 (2.53%)
SSGC 40.25 Increased By ▲ 2.98 (8%)
SYM 14.83 Increased By ▲ 0.45 (3.13%)
TELE 6.98 Increased By ▲ 0.16 (2.35%)
TPLP 8.27 Increased By ▲ 0.13 (1.6%)
TRG 64.05 Increased By ▲ 0.92 (1.46%)
WAVESAPP 8.57 Increased By ▲ 0.53 (6.59%)
WTL 1.27 Increased By ▲ 0.02 (1.6%)
YOUW 3.42 Increased By ▲ 0.07 (2.09%)
AIRLINK 155.38 Increased By ▲ 3.26 (2.14%)
BOP 9.69 Increased By ▲ 0.57 (6.25%)
CNERGY 7.11 Increased By ▲ 0.02 (0.28%)
CPHL 84.07 Increased By ▲ 1.78 (2.16%)
FCCL 43.44 Increased By ▲ 0.63 (1.47%)
FFL 14.79 Increased By ▲ 0.58 (4.08%)
FLYNG 30.31 Increased By ▲ 1.72 (6.02%)
HUBC 136.24 Increased By ▲ 4.30 (3.26%)
HUMNL 12.51 Increased By ▲ 0.28 (2.29%)
KEL 4.02 Increased By ▲ 0.02 (0.5%)
KOSM 5.02 Increased By ▲ 0.11 (2.24%)
MLCF 69.44 Increased By ▲ 2.39 (3.56%)
OGDC 203.25 Increased By ▲ 2.87 (1.43%)
PACE 5.06 Increased By ▲ 0.07 (1.4%)
PAEL 42.50 Increased By ▲ 1.00 (2.41%)
PIAHCLA 16.57 Increased By ▲ 0.35 (2.16%)
PIBTL 8.79 Increased By ▲ 0.37 (4.39%)
POWER 13.93 Increased By ▲ 0.88 (6.74%)
PPL 150.83 Increased By ▲ 2.23 (1.5%)
PRL 28.91 Increased By ▲ 1.20 (4.33%)
PTC 20.73 Increased By ▲ 1.27 (6.53%)
SEARL 84.04 Increased By ▲ 2.07 (2.53%)
SSGC 40.25 Increased By ▲ 2.98 (8%)
SYM 14.83 Increased By ▲ 0.45 (3.13%)
TELE 6.98 Increased By ▲ 0.16 (2.35%)
TPLP 8.27 Increased By ▲ 0.13 (1.6%)
TRG 64.05 Increased By ▲ 0.92 (1.46%)
WAVESAPP 8.57 Increased By ▲ 0.53 (6.59%)
WTL 1.27 Increased By ▲ 0.02 (1.6%)
YOUW 3.42 Increased By ▲ 0.07 (2.09%)
BR100 12,160 Increased By 383.7 (3.26%)
BR30 35,356 Increased By 946.7 (2.75%)
KSE100 114,114 Increased By 2787.4 (2.5%)
KSE30 34,917 Increased By 924.3 (2.72%)

Major Asian currencies and stock markets recouped losses on Tuesday, as investor sentiment improved after US President Donald Trump postponed tariffs on Canada and Mexico for a month and said he would hold further talks with China.

The Malaysian ringgit and Indonesian rupiah climbed 0.5% and 0.4% respectively while the Taiwan dollar and South Korean won added 0.1% and 0.2% each.

The reversal in market sentiment comes as Trump delayed 25% tariffs against Mexico and Canada after the two countries’ leaders said they would bolster border enforcement efforts.

Trump’s press secretary said the president would speak with Chinese President Xi Jinping in the next couple of days.

Tariffs on China are due to come into effect at 0501 GMT on Tuesday.

Asian currencies had slumped on Monday amid fears of a trade war as Trump threatened tariffs on imports from the United States’ three biggest trade partners.

The Singapore dollar and the Thai baht were little changed on Tuesday against the dollar, which held steady.

“Tariffs against Canada and Mexico are likely just negotiation tools and should not be viewed as how Trump intends to wield tariffs to handle trade with the US more broadly,” said Eugene Leow, senior rates strategist at DBS.

“We suspect that a more systematic tariff policy would be mooted in March/April.”

Asian shares climbed, with stocks in Manila rising the most - and set for a second consecutive day of gains - after the central bank governor hinted last week at a further cut in interest rates when officials meet later this month.

Asian currencies, equities edge higher ahead of Trump’s new term

Philippine stocks had fallen for five straight days, reflecting rising concern about the global economy and a growth slowdown at home.

The benchmark slipped 4% last Friday to its lowest close since October 2022.

Analysts at Citi expect the Philippine central bank to cut rates by 25 basis points on Feb. 13.

Citi expects the Bangko Sentral ng Pilipinas (BSP) to hold steady in April before cutting again in June and August, partly due to the potential increase in US tariffs and its impact on global trade and USD/PHP, coupled with the Federal Reserve’s rate cut decisions and mid-term election campaigning at home.

Other stock markets including Indonesia, Malaysia and Taiwan climbed between 0.5% and 1.1%.

Comments

200 characters