Asian FX, stocks gain ahead of Jackson Hole meet

Quick Summary:

INDONESIAN stocks hit a record high on Tuesday among buoyant emerging Asian equities, while the rupiah led gains among currencies as investors looked out for further hints on a September rate cut by the Federal Reserve.

The dollar index drifted lower overnight, although it stayed steady during Asian hours at 101.96.

"There is scope for the South Korean won, Philippines peso and Indonesian rupiah to play catch up in recovering this year’s losses," he added.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndonesiaSouth KoreaPhilippinesSingaporeTaiwanThailand

Topics: /Business/Business News Equities Asian Forex Rupiah

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 15:24:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 426 words

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Sentences: 20 lines

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Copyright Owner: © The Star

News ID: 22169795

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