Asian stocks climb, FX falls ahead of central bank meetings

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Asian emerging market equities extended

There were gains Thursday due to optimism in the early stages of U.S.

earnings season buoyed sentiment, while Indonesia’s rupiah fell

The central bank lowered the level to its lowest point in two years.

meeting.

Stocks in Philippines rose 0.9%, leading gains in the

region, followed closely by South Korea, Malaysia, and China.

Each rose 0.5%. Indian stocks also saw an increase.

higher

Wall Street indexes rose overnight after Tesla

Post better-than-expected results following the bell, easing

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investors’ concerns about slowing economic growth.

But, the currency in the region was in a sea red

Both the Thai Baht as well as the Indonesian Rupeeh are falling

To compensate for lead losses, 0.2% The ringgit and the Philippines

Also, peso fell.

“I expect the FX market to be quite volatile today as the

The European Central Bank meeting will be anticipated by the market

Which Nord Stream 1 pipelines will be operating at normal?

pace again or not,” said Poon Panichpibool, Markets Strategist

at Krung Thai Bank.

There is a lot of uncertainty about the supply of Russian gas to the west.

Traders are on edge. The market’s focus is on the return of gas.

After a reorganization, flows along the largest pipeline connecting Russia and Germany.

A planned 10-day outage. If flow isn’t resumed, or is lackluster,

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It will increase anxiety about winter supplies.

Nord Stream 1 pipeline has gas deliveries

On Thursday, the gas supply was restored. Spiegel and daily reported that it had been resumed.

FAZ reported the story, citing a German newswire dpa. It was, however.

It was not obvious how much gas was being moved.

The baht reached its lowest point in more than 15 years. Maybank

Analysts stated that COVID-19 flareups in China were a result of perceptions and COVID-19.

Lagging policy normalization in Thailand relative to its peers

Weighing on the currency.

Thursday will see the Bank Indonesia (BI), meeting.

The markets expect the central banks to keep their hands off of interest rates.

Rates rising amid calls for a 25 basis-point increase The rupee

Stocks in Indonesia fell to their lowest point in more than two years, while the Dow dropped to its lowest in nearly two years

The meeting was a 0.9% success.

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“We expect BI to hike rates by 25 basis points, but if they

Do not stand by, as it is highly probable that the pressure will increase on the rupeah

will escalate,” said Fakhrul Fulvian, Economist at Trimegah

Securities.

Mitul Kotecha (EM strategy head at TD Securities), was part of the

Bank Indonesia has not yet changed its rates, according to this view.

“If policy tightening does not happen this time, we expect

BI to flag a hike at their next meeting in August,” he said.

Investors remained vigilant and observant of the situation.

China saw a rebound in COVID-19-related cases, and a decline in the

The mortgage boycotts may have a chilling effect on the property market

The risk-averse.

HIGHLIGHTS:

** Indonesian 10-year benchmark yields rise 3.8 basis points

– 7.503%

** The Bank of Japan raised its inflation forecast on

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Thursday was a day of rest, with ultra-low interest rate

** ECB to finally join rate hike club with big move on

Agenda

Asia stock indexes & currencies at 0423 GMT

COUNTRY FX FX Index STOCKS STOCKS

RIC YTD YTD

DAILY% DAILY%

% %

Japan +0.05 -16.69 0.16 3.71

China -0.08.

India -0.05 -7.12 0.01

Indonesia -0.23 -5.13 -0.76 3.66

Malaysia -0.11 0.53 0.69 -7.70

Philippines -0.05 -9.42 0.76 -11.24

S.Korea -0.07 -9.51 0.60 -19.36

Singapore +0.09 -3.08 -0.71 0.77

Taiwan -0.13 -7.50 0.82 -18.47

Thailand -0.22-9.16 -7.26

(Reporting by Tejaswi Marthi in Bengaluru; Editing by Kim

Coghill)