Asian monies mixed late, S'pore dollar uninspired<\/p>\n
Netty Ismail, Dow Jones, Singapore<\/p>\n
Asian currencies were mixed in range-bound trading late
\nFriday, with the Singapore dollar uninspired by the government's
\nstimulus package, dealers said.<\/p>\n
The South Korean won and the Thai baht were slightly higher,
\nwhile the New Taiwan dollar was steady. The Philippine peso and
\nIndonesian rupiah were marginally weaker.<\/p>\n
The Singapore dollar, which had recovered earlier in the day
\nfrom Thursday's 11-week lows, lost its footing again late Friday,
\nsoon after the government unveiled a S$11.3 billion off-budget
\nfiscal stimulus package.<\/p>\n
The steps were largely within expectations, although the size
\nof the package, which was equivalent to 7 percent of Singapore's
\ngross domestic product, was bigger than what many observers had
\nanticipated.<\/p>\n
Late Friday, the U.S. dollar was quoted at S$1.8172, lower
\nthan S$1.8251 in Asia late Thursday.<\/p>\n
The Thai currency rode on the coattails of the Singapore
\ndollar, strengthening to 44.690 baht per dollar, compared with
\n44.785 baht late Thursday.<\/p>\n
Foreign equity fund inflows and stop-loss dollar sales, which
\nemerged when the U.S. currency broke below 1,300 won, boosted the
\nSouth Korean currency, the dollar ended at 1,299.3 won, down from
\nThursday's close of 1,302.0 won.<\/p>\n
The New Taiwan dollar ended little changed, after the central
\nbank bought nearly US$100 million in the last 15 minutes of trade
\nto counter the appreciation of the local currency, said a Taipei-
\nbased dealer.<\/p>\n
The U.S. dollar ended at NT$34.550, compared with NT$34.553
\nThursday.<\/p>\n
Dealings were valued at US$305.5 million, up from US$178
\nmillion Thursday.<\/p>\n
The Philippine currency weakened, but remained supported
\naround 51.800 pesos to the dollar, the level which the central
\nbank has reportedly been guarding. The dollar ended at 51.750
\npesos Thursday.<\/p>\n
The Indonesian currency was slightly weaker at Rp 9,965
\nagainst the dollar, compared with Rp 9,955 late Thursday.<\/p>",
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