AGL 38.00 Increased By ▲ 0.01 (0.03%)
AIRLINK 210.38 Decreased By ▼ -5.15 (-2.39%)
BOP 9.48 Decreased By ▼ -0.32 (-3.27%)
CNERGY 6.48 Decreased By ▼ -0.31 (-4.57%)
DCL 8.96 Decreased By ▼ -0.21 (-2.29%)
DFML 38.37 Decreased By ▼ -0.59 (-1.51%)
DGKC 96.92 Decreased By ▼ -3.33 (-3.32%)
FCCL 36.40 Decreased By ▼ -0.30 (-0.82%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.95 Increased By ▲ 0.46 (3.17%)
HUBC 130.69 Decreased By ▼ -3.44 (-2.56%)
HUMNL 13.29 Decreased By ▼ -0.34 (-2.49%)
KEL 5.50 Decreased By ▼ -0.19 (-3.34%)
KOSM 6.93 Decreased By ▼ -0.39 (-5.33%)
MLCF 44.78 Decreased By ▼ -1.09 (-2.38%)
NBP 59.07 Decreased By ▼ -2.21 (-3.61%)
OGDC 230.13 Decreased By ▼ -2.46 (-1.06%)
PAEL 39.29 Decreased By ▼ -1.44 (-3.54%)
PIBTL 8.31 Decreased By ▼ -0.27 (-3.15%)
PPL 200.35 Decreased By ▼ -2.99 (-1.47%)
PRL 38.88 Decreased By ▼ -1.93 (-4.73%)
PTC 26.88 Decreased By ▼ -1.43 (-5.05%)
SEARL 103.63 Decreased By ▼ -4.88 (-4.5%)
TELE 8.45 Decreased By ▼ -0.29 (-3.32%)
TOMCL 35.25 Decreased By ▼ -0.58 (-1.62%)
TPLP 13.52 Decreased By ▼ -0.32 (-2.31%)
TREET 25.01 Increased By ▲ 0.63 (2.58%)
TRG 64.12 Increased By ▲ 2.97 (4.86%)
UNITY 34.52 Decreased By ▼ -0.32 (-0.92%)
WTL 1.78 Increased By ▲ 0.06 (3.49%)
BR100 12,096 Decreased By -150 (-1.22%)
BR30 37,715 Decreased By -670.4 (-1.75%)
KSE100 112,415 Decreased By -1509.6 (-1.33%)
KSE30 35,508 Decreased By -535.7 (-1.49%)

Most Asian currencies stepped up against the dollar on Monday as investors took comfort in further signs of stabilisation in the Chinese economy and an upbeat start to U.S. earnings.

Chinese data on Friday showed exports rebounded sharply and new bank loans increased far more than expected in March, raising hopes that the world's second-biggest economy is bottoming out after a soft patch.

"Chinese 'green shoots' appear to be the catalyst for optimism, lifting bond yields and global equities into the end of last week in what appeared to be all-around 'risk on'",Mizuho Bank said in a note.

Markets are now turning their focus to the release of China's first-quarter GDP and activity data on Wednesday. Growth in the first quarter is forecast to have cooled to a 27-year low, though many expect major stimulus measures to filter through in the coming quarters.

The yuan edged lower to 6.710, a 0.1 percent drop from Friday's close, pressured by some corporate demand for the greenback. South Korea's won outperformed its regional peers, up 0.6 percent to 1,133.2, as slowdown worries ease.

The dollar index, a gauge of the performance of the greenback against a basket of key rival currencies weakened 0.1 percent to 96.857.

Elsewhere, Indonesia posted a surprise trade surplus for a second straight month in March. The rupiah was 0.2 percent up at 14,060, a level it held for much of the session.

The rupiah, which is at a more than one-month high against the dollar, has been among the best performing currencies this year.

On Wednesday, Southeast Asia's largest economy goes to the polls. The election in the world's third-biggest democracy is a repeat of the 2014 contest, and the incumbent, president Joko

Widodo, has been comfortably ahead in most surveys after winning by almost six percentage points last time around.

The Indian rupee, on the other hand, which also reports trade data for March, weakened 0.2 percent to 69.29 a

dollar. "INR may be more vulnerable to the 'twin deficits' risks if trade deficit gets too close to or crosses $10 billion," Mizuho Bank said, as oil prices rise.

The Philippine traded sideways for much of the session, but was last up 0.1 percent ahead of remittances data later in the day. Markets in Thailand are closed for a public holiday.

Copyright Reuters, 2019
 

Comments

Comments are closed.