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.
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.
Wall Street indexes rose overnight after Tesla
Post better-than-expected results following the bell, easing
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,
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.
“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
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
** Indonesian 10-year benchmark yields rise 3.8 basis points
** The Bank of Japan raised its inflation forecast on
Thursday was a day of rest, with ultra-low interest rate
** ECB to finally join rate hike club with big move on
Asia stock indexes & currencies at 0423 GMT
COUNTRY FX FX Index STOCKS STOCKS
RIC YTD YTD
Japan +0.05 -16.69 0.16 3.71
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