Manila stocks jump on rate cut hopes; currencies muted as US election looms
Recasts and updates with new moves
Philippine CPI below estimates
Thai stocks led by Delta Electronics
Expect baht to regain in Dec - analyst
By Rishav Chatterjee and Adwitiya Srivastava
Nov 5 (Reuters) - Philippine stocks rallied on Tuesday after the country's quickening inflation signalled a sustained cycle of policy easing, while most emerging Asia currencies were muted ahead of the U.S. presidential election.
Shares in Manila .PSI gained up to 1.2%, set for their strongest session since mid-October while stocks in Thailand .SETI climbed 0.9%, led by gains in power supplies manufacturer Delta Electronics.
Data on Tuesday showed, Philippine's consumer price index rose 2.3% in October from 1.9% reported the previous month and was belowthe 2.4% forecast in a Reuters poll.
This gives the central bank more room to maintain its policy easing cycleafter it cut the benchmark interest rate by25 basis points last month, for the second time this year. The peso was trading flat against the greenback.
"Inflation is expected to remain below 3.0% for the rest of the year, and much of the firsthalf of 2025, paving the wayfor another 25 bps rate cut by the Bangko Sentral ng Pilipinas," saidanalysts at Citi.
Bangkok stocks hit their highest since late October, led by Delta ElectronicsDELTA.BK, which jumped 7.5% to a record high.
"So without a positive impact from Delta, I think the Thai market won't see a significant rally which should be in line with other Asia markets as market players are in defensive, wait-and-see mode until the U.S. election results come in," Poon Panichpibool, a markets strategist at Krung Thai Bank.
The Thai baht THB=TH,among the few Southeast Asian currencies which have gained since the start of the year, was trading 0.3% higher.
"Over medium to long-term, I still expect baht to regain some strength, especiallyin December and early Q1/2025 due to the highseason of foreign tourists and potential return of foreign fund flows back into the Thaicapital market," Panichpibool said.
Currency markets in emerging Asia were mostly muted, with investors in a wait-and-see mode until it becomes clear who will win the U.S. presidential election.
The Malaysian ringgit MYR= added 0.3% while the Indonesian rupiah was flat.
Shares in Jakarta .JKSE and Mumbai .NSEI were trading 0.2% and 0.6% lower.
HIGHLIGHTS
** Indonesia's Q3 GDPgrowth at 4.95% y/y
** China, HK stocks rise on signs of economic improvement
Asia stocks and currencies as at 0644 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.15 | -7.42 | .N225 | 1.32% | 15.83% |
China | CNY=CFXS | -0.07 | -0.11 | .SSEC | 2.14 | 13.65 |
India | INR=IN | -0.01 | -1.08 | .NSEI | -0.52 | 9.84 |
Indonesia | IDR= | -0.03 | -2.28 | .JKSE | -0.17 | 2.67 |
Malaysia | MYR= | +0.29 | +5.34 | .KLSE | 0.12 | 11.25 |
Philippines | PHP= | +0.07 | -5.09 | .PSI | 1.23 | 12.00 |
S.Korea | KRW=KFTC | -0.30 | -6.57 | .KS11 | -0.47 | -2.95 |
Singapore | SGD= | +0.09 | +0.05 | .STI | 0.11 | 10.36 |
Taiwan | TWD=TP | -0.68 | -4.49 | .TWII | 0.62 | 28.87 |
Thailand | THB=TH | +0.30 | +1.56 | .SETI | 0.82 | 4.18 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Rishav Chatterjee and Adwitiya Srivastava in Bengaluru; Editing by Clarence Fernandez and Eileen Soreng
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
