The US-led banking turmoil is driving money into Asian assets.
A Citibank analysis of global financial conditions shows Asian financial markets have tightened less than in the US and most Asian currencies have gained ground against the US dollar.
Economists say one factor working in favor of Asia-Pacific is a generally softer pivot in monetary policy, with central banks in Australia, South Korea, Indonesia and India among those pausing their tightening cycles. China, with its easing monetary policy and a belated re-opening from Covid, is the top attraction for investors.
An end to the cycle of Fed hikes, amid the financial stability risks and signs of cooling demand, could aid Asia by easing pressures from a strong dollar on external finances and reducing the appeal of the greenback as a safe haven. Citi’s Chua reckons that Hong Kong and Thailand, which benefit from China’s re-opening, and domestic services-led economies like India and the Philippines"look relatively more resilient” to a global growth shock."Small, open economies” like Singapore, Vietnam, South Korea, Malaysia and Taiwan would likely be more vulnerable to those spillovers.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tourism board chief: Single female travellers a ‘rich area of opportunity’ for Singapore tourismSINGAPORE, April 7 — The rising single female traveller demographic is a “rich area of opportunity” as Singapore looks to attract more visitors, Singapore Tourism Board (STB)...
Read more »
Asian markets edge up in thin trade ahead of US jobsThe closely watched figure follows a week of reports indicating a weakening labour market.
Read more »
Asian FX subdued on lack of cues, eyes on US non-farm payrolls dataTRADING in Asian currencies was subdued on Friday, with the Thai baht leading laggards, as investors remained on the sidelines ahead of key economic data that will help gauge the U.S. Federal Reserve's likely future outlook on interest rate policy.
Read more »
Police report made over Singapore Zoo ticket scam, fraudulent site downSINGAPORE (The Straits Times/Asia News Network): A report has been made against a scam site that mimicked the official site of the Mandai Wildlife Reserve, said the police.
Read more »
Singapore a member of UN drug policymaking body, aims to focus on rehab for drug offendersSingapore, alongside 52 other member states, will serve from 2024 to 2027 and hold voting rights during its tenure. This is the first time Singapore has had a seat on CND, on which it has been an observer since 1997.
Read more »
Singapore plans new guidance for banks to vet crypto clientsSingapore banks are working with the city-state’s authorities to set uniform standards on screening potential customers from the crypto and digital assets sectors, amid various global fallouts in the industry.
Read more »