Most Asian monies close stronger<\/p>\n
HONG KONG (Dow Jones): The majority of Asian currencies ended
\nlocal trading hours stronger against the U.S. dollar Tuesday,
\nsupported by the resilience of the yen.<\/p>\n
The Thai currency, however, lost ground, as interbank dealers
\nattempted to take advantage of a clutch of banking-sector scares
\nto push the baht down through the floor of its recent trading
\nrange.<\/p>\n
In the Philippines, the peso strengthened after central bank
\nGovernor Rafael Buenaventura publicly drew a line in the sand,
\nsaying the U.S. dollar should not advance beyond 39.90 pesos
\nbetween now and the end of the year.<\/p>\n
The dollar fell lower to end the session at 39.670 pesos, down
\nfrom 39.740 pesos at Monday's close.<\/p>\n
The Thai baht weakened Tuesday, as interbank dealers seized on
\ntwo fresh banking-sector tangles as an excuse to sell the
\ncurrency down.<\/p>\n
Toward the end of Asian interbank trading, the U.S. dollar was
\nquoted at 38.3800 baht, up from 38.3100 baht the day before.<\/p>\n
The Singapore dollar rose, lifted by the strength of the yen
\nand held up by moderate corporate buying interest, according to
\ndealers in the island state.<\/p>\n
Late in Asian hours, the U.S. currency was quoted at S$1.6840
\nagainst the Singapore currency, down from S$1.6871 late the
\nprevious day.<\/p>\n
Interest in the Indonesian rupiah was limited, as most market
\nplayers remained on the sidelines, awaiting any fallout from
\nMonday's plebiscite in East Timor.<\/p>\n
Late in Asian trading the U.S. dollar was quoted at Rp 7,660,
\ndown marginally from Rp 7,677 toward the end of Monday's session.
\nSubsequently, following the closure of the Singapore interbank
\nmarket, the dollar was bid higher to reach Rp 7,710.<\/p>\n
In North Asia, the collapse of talks between HSBC and the
\nSouth Korean government over HSBC's proposed purchase of a stake
\nin Seoulbank had little impact on the won's exchange rate.<\/p>\n
At the end of domestic trading the South Korean currency
\nclosed slightly lower as U.S. dollar-buying by state-run banks
\noffset end of the month sales by local exporters.<\/p>\n
At the finish, the dollar was quoted at 1,184.60 won, up from
\n1,184.50 won the previous day.<\/p>\n
The New Taiwan dollar continued to edge upward, supported by
\nthe yen and continued capital inflows, as the local stock market
\ndefied the regional trend to close higher on the day.<\/p>\n
At the Taipei close, the U.S. currency was at NT$31.843, down
\nfrom Monday's NT$31.850.<\/p>",
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