Market sentiment on rupiah remains negative<\/p>\n
HONG KONG (Dow Jones): Asian currencies ended a day of
\nlistless trading mostly a touch lower against the U.S. dollar
\nTuesday.<\/p>\n
Their softness reflected an overnight rally in the U.S.
\ncurrency against the yen and the widespread fall in regional
\nequity markets following Monday's drop in U.S. stock prices.<\/p>\n
The rupiah remained sidelined, with the dollar ending Asian
\ntrading hours at Rp 7,320, up from Rp 7,307 late Monday.<\/p>\n
Although market sentiment toward the Indonesian currency
\nremains strongly negative following widespread unrest in the
\ncountry's outlying islands, dollar offers at Rp 3,350 look set to
\ncap the U.S. currency for the time being, said traders.<\/p>\n
The Philippine peso, however, bucked the regional trend as
\nmarket participants sold dollars to exit long positions in the
\nU.S. currency after the central bank in Manila announced it is to
\ntighten foreign exchange reporting regulations.<\/p>\n
By the close of trading in Manila sales had pushed the dollar
\ndown to 40.445 pesos, from 40.490 pesos the previous day.<\/p>\n
In other regional markets the Singapore dollar ended Asian
\nhours lower, weighed down by the fall of the yen and weaker local
\nstock prices.<\/p>\n
Short-term sentiment toward the Singapore currency also
\nsuffered from confirmation that Singapore Telecom is in talks
\nwith Cable & Wireless Plc to acquire a stake in Hong Kong
\ntelecommunications provider Cable & Wireless HKT.<\/p>\n
Nevertheless, dealing was subdued, with few market players
\nwilling to assume fresh risks ahead of testimony later Tuesday
\nfrom U.S. Federal Reserve chairman Alan Greenspan.<\/p>\n
Toward the end of Asian trading the U.S. dollar was quoted
\nagainst the Singapore currency at S$1.6842, up from S$1.6822 late
\nMonday.<\/p>\n
The baht also ended Asian hours a touch weaker in thin, choppy
\ntrading. Dollar buying late in the day by a U.S. and a European
\nbank, thought by traders to have been executed on behalf of
\ninstitutional clients, pushed the U.S. currency up to 37.265
\nbaht, from 37.190 baht late Monday.<\/p>\n
In North Asian markets the Korean won ended lower after an
\nearly stock market fall prompted dealers to cover short dollar
\npositions against the local currency in anticipation of a capital
\noutflow.<\/p>\n
At the close, the U.S. dollar was quoted at 1,127.10 won, up
\nfrom 1,124.00 won the previous day.<\/p>\n
The new Taiwan dollar ended flat in light trading. At the
\nclose the U.S. dollar was at NT$30.813, compared with NT$31.812
\nMonday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/market-sentiment-on-rupiah-remains-negative-1447893297",
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