Written by Aashma Iyer
March 13 (Reuters) – Most Asian currencies fell on Wednesday after higher-than-expected U.S. inflation data suggested a slightly increased risk of a postponement of interest rate cuts, but stocks remained untroubled in Jakarta and Taipei, hitting record highs.
Philippine peso PHP= and taiwan dollar TWD=TP are expected to fall by about 0.3% and 0.2%, respectively, with the former set to recover some of its recent gains for its biggest decline in two weeks.philippine stocks .PSI It rose by 1.2%.
Consumer prices in the world's largest economy increased In February, the rate exceeded consensus expectations and moderately reduced expectations for a rate cut.
Futures pricing suggests a 67% chance the Fed will cut rates at its June meeting, down slightly from 71% earlier in the week. to CME FedWatch Tool.
Vishnu said, “The prospect of a delay in the Fed's interest rate cuts means that central banks in other countries, especially emerging economies (including emerging Asia), believe that the Fed's early interest rate cuts could lead to a 'prolonged period of rate hikes' at the expense of macro and currency stability. “It means to impose.” Mr. Varasan, chief economist for Asia (excluding Japan) at Mizuho Bank, said in a client note.
Barasan added that the impact of inflation could be felt more prominently outside the US, which could limit the extent to which Asian emerging market currencies benefit from the expected dollar depreciation. .
Other emerging Asian currencies such as the Korean won KRW=Korea Fair Trade CommissionSingapore dollar singapore dollar = and malaysian ringgit MYR= The stock traded between flat and 0.2% lower.
indonesian rupiah IDR= The Thai baht rose slightly after the holiday, but THB=TH It followed.
Singapore for Asian stocks .STI and jakarta .JKSE Indonesian stocks hit a record high in early trading, firming between 0.3% and 0.6%.
In recent months, Indonesian stocks have seen an influx of money from overseas, mainly into financial stocks, as bank profits are expected to boost economic growth. Prabowo Subianto's victory in last month's election was also hailed as a sign of continuity in his policies. Banking and mining sectors, popular with foreign investors, led the gains on Wednesday.
kuala lumpur market .KLSE Approximately 1% decline
Taiwanese tech stocks .TWII After rising by 1% to a new all-time high, the stock started to rise and then leveled off. Investors are constantly looking to pour money into artificial intelligence stocks, driven by enthusiasm for the technology sector.
taiwan semiconductor manufacturing 2330.TWThe company, the most heavily weighted stock in the country's benchmark index, rose nearly 1.2%.
In other places, Argentinian The monthly inflation rate in February was 13.2%, slower than expected, but the annual rate was an astonishing 276.2%.the country's peso ARS=RASL The last trading price was 848.50 per dollar. .MERV The stock ended up more than 7% overnight.
highlight:
** Indonesia's benchmark 10-year bond yield falls to 6.626%
**KKR pour in $400 million for telecom tower project in the Philippines
** Central Bank of Taiwan I can see CPI growth will be less than 2% this year, economic growth will be better than in 2023
Asian stock indexes and currencies at 0335 GMT
Country
fx lick
FX Daily%
Exchange year-to-date%
index
Daily inventory %
Stock price year-to-date%
Japan
Yen =
+0.24
-4.25
.N225
-0.42
15.45
China
CNY=CFXS
-0.07
-1.25
.SSEC
-0.51
2.20
India
INR=IN
-0.08
+0.45
.NSEI
0.00
2.78
Indonesia
IDR=
+0.10
-1.12
.JKSE
0.35
1.85
Malaysia
MYR=
-0.17
-1.99
.KLSE
-0.92
5.89
Philippines
PHP=
-0.28
-0.00
.PSI
1.20
7.94
South Korea
KRW=Korea Fair Trade Commission
-0.11
-1.87
.KS11
0.40
1.40
Singapore
singapore dollar =
+0.06
-0.92
.STI
0.58
-2.48
Taiwan
TWD=TP
-0.19
-2.34
.TWII
0.02
11.09
Thailand
THB=TH
+0.08
-4.27
.SETI
0.42
-2.15
(Reporting by Aashma Iyer in Bengaluru; Editing by Tom Westbrook and Edwina Gibbs)
((Archishma.Iyer@thomsonreuters.com;))
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