AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 126.99 Decreased By ▼ -0.05 (-0.04%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.46 Decreased By ▼ -0.05 (-1.11%)
DCL 8.61 Increased By ▲ 0.06 (0.7%)
DFML 41.70 Increased By ▲ 0.26 (0.63%)
DGKC 87.00 Increased By ▲ 0.15 (0.17%)
FCCL 32.18 Decreased By ▼ -0.10 (-0.31%)
FFBL 64.86 Increased By ▲ 0.06 (0.09%)
FFL 10.18 Decreased By ▼ -0.07 (-0.68%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.14 Increased By ▲ 0.09 (1.78%)
KOSM 7.50 Increased By ▲ 0.04 (0.54%)
MLCF 41.21 Decreased By ▼ -0.17 (-0.41%)
NBP 59.95 Decreased By ▼ -0.46 (-0.76%)
OGDC 195.00 Increased By ▲ 4.90 (2.58%)
PAEL 28.30 Increased By ▲ 0.47 (1.69%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.27 Increased By ▲ 1.21 (0.81%)
PRL 26.45 Decreased By ▼ -0.43 (-1.6%)
PTC 16.18 Increased By ▲ 0.11 (0.68%)
SEARL 78.21 Decreased By ▼ -7.79 (-9.06%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.47 Increased By ▲ 0.06 (0.17%)
TPLP 8.22 Increased By ▲ 0.10 (1.23%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.84 Decreased By ▼ -0.45 (-0.84%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.1 (0.58%)
BR30 30,870 Increased By 270.4 (0.88%)
KSE100 93,884 Increased By 528.4 (0.57%)
KSE30 29,080 Increased By 149.4 (0.52%)

The Indonesian rupiah rose nearly 3% on Thursday on expectation of a pickup in bond inflows, while most other Asian units also firmed ahead of a long weekend as investors cheered promising early trial results of an experimental COVID-19 treatment.

The top US infectious disease official said Gilead Sciences Inc's remdesivir will become the standard of care for COVID-19 after early clinical trial results showed it helped patients recover more quickly from the illness caused by the coronavirus.

Asian currencies also found support in a weaker greenback after the US Federal Reserve on Wednesday left the door open to more monetary easing.

The Indian rupee firmed 1% and was set for a weekly gain after four weeks of losses.

The country recorded its 1,000th novel coronavirus death but the head of a government think-tank said on Wednesday that it was not experiencing the feared exponential surge in infections.

The Malaysian ringgit was supported by a 10% rise in oil prices on signs that the US crude glut is not growing as quickly as expected.

Meanwhile, financial markets in South Korea were closed for a holiday. Most emerging Asian foreign exchange markets will be closed on Friday for Labour Day. The rupiah hit its strongest level since mid-March, appreciating beyond the 15,000 level that the central bank had said earlier this month it would return to, and was poised for its fourth straight weekly gain.

"The IDR is seeing gains on improved risk appetite, with markets anticipating a pickup in bond inflows," said Wei-Liang Chang, macro strategist FX and Credit at DBS.

Indonesia raised 11.38 trillion rupiah ($760.19 million) at a greenshoe option bond auction on Wednesday. It will sell 856.8 trillion rupiah worth of bonds in the second quarter through to the end of the year to cover for its widening budget deficit, Finance Minister Sri Mulyani Indrawati said.

Copyright Reuters, 2020

Comments

Comments are closed.