* Taiwan stocks lead gains * Thai stocks flat after Monday losses, economy outlook cut By Roushni Nair Jan 23 (Reuters) - Equities in Taiwan hit a three-week high on Tuesday and shares in Malaysia, South Korea, and the Philippines also gained after an earnings-driven rally helped the S&P 500 notch up a fresh record high for a second straight session. Stocks in Taipei advanced as much as 0.4% to their highest level since Jan. 2, while those in Kuala Lumpur rose 0.6% to a 1-week high. Benchmarks in Seoul and Manila were up 0.3% and 0.4% by 0428 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.8%, hitting its highest in about a week, while Tokyo stocks climbed to a 34-year peak after the central bank stood pat on its ultra-loose monetary policy. Shares in Thailand were trading flat after losing nearly 1% in the previous session. The benchmark fell 1% last week, marking its worst week in three. Thailand's economy is expected to grow 2.8% this year, a sharp downgrade from a previous projection of 3.2%, the finance ministry said. Currencies in the region struggled for direction, with the Chinese yuan and the South Korean won making the most ground, adding 0.3% each. The yuan was helped by a Bloomberg report that Chinese policymakers are seeking to mobilise about 2 trillion yuan ($279 billion) as part of a stabilisation fund to buy shares. The Singapore dollar and Indonesian rupiah each climbed 0.2%. "We recommend fading the sell-off in KRW but that aside, the broader Asia FX spot, vol and skew dynamics are more consistent with fundamentals than they first appear," Adarsh Sinha, an analyst at BofA Securities wrote in a note to clients. The Malaysian ringgit and the Phillipine peso largely traded flat. The dollar index dipped 0.1% to 103.30 but was not too far from an over one-month high of 103.69 hit last week as traders pare back their expectations for a rate cut by the Federal Reserve in March. Meanwhile, equities in China hovered near a five-year low hit in the previous session despite the Bloomberg report. Hong Kong shares, however, rallied after the country's cabinet pledged to take more effective measures to stabilise market confidence. HIGHLIGHTS: ** South Korea's economy likely grew at slightly slower pace in Q4 - Poll ** Singapore Dec core inflation at 3.3% y/y ** China weighs stock market rescue package backed by $278 bln - Bloomberg News Asia stock indexes and currencies at 0444 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan -0.01 -4.75 0.30 10.12 ChinaIndia -0.05 +0.12 0.50 -0.24 Indonesia -0.16 -1.66 -0.42 -0.76 Malaysia -0.13 -2.96 0.41 2.93 Philippines -0.13 -1.67 0.40 2.48 S.Korea Singapore +0.13 -1.57 0.04 -2.77 Taiwan +0.01 -1.96 0.13 -0.52 Thailand -0.10 -4.08 0.05 -3.19 (Reporting by Roushni Nair in Bengaluru; Editing by Edwina Gibbs)
MSCI TAIWAN (STRD)
Index
End-of-day quote MSCI 10:00:00 2024-04-26 am EDT | 5-day change | 1st Jan Change | ||
690.6 USD | +1.81% | +3.39% | +8.11% |
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Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
5,100 PTS | +1.02% | +2.67% | - | ||
2,686 PTS | +0.86% | +2.29% | - | ||
1,376 KRW | 0.00% | +0.15% | - | ||
1,007 KRW | -0.00% | +0.77% | - | ||
899.4 KRW | +0.01% | +1.95% | - | ||
690.6 USD | +1.81% | +3.39% | - | ||
16.51 KRW | 0.00% | +0.10% | - | ||
9.056 CNY | +0.04% | +1.14% | - | ||
7.747 CNY | 0.00% | +0.40% | - | ||
7.266 CNH | -0.01% | +0.23% | - | ||
7.246 CNY | 0.00% | +0.08% | - | ||
5.3 CNY | -0.00% | +0.70% | - | ||
4.733 CNY | 0.00% | +1.81% | - | ||
1.699 SGD | -0.11% | +0.87% | - | ||
1.456 SGD | -0.08% | +0.34% | - | ||
1.362 SGD | -0.07% | -0.01% | - | ||
1.249 USD | -0.02% | +0.92% | - | ||
1.069 USD | -0.32% | +0.37% | - | ||
0.7302 USD | -0.11% | +0.52% | - | ||
0.5948 USD | +0.17% | +0.83% | - | ||
0.0869 CNY | 0.00% | 0.00% | - | ||
0.0163 SGD | -0.07% | 0.00% | - | ||
0.012 USD | 0.00% | 0.00% | - | ||
- PTS | -.--% | +1.02% | - | ||
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