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International

Nikhil Subba

Australia shares wrap up holiday-shortened week on firm note

Apr 01 2021

* Biden's EV plan boosts lithium, copper-exposed stocks (Updates to close)

Australia shares notch best month in four as China data lifts rebound bets

Mar 31 2021

* BHP marks best session in over three weeks (Updates to close)

Australia shares end lower as new COVID-19 cases put Easter plans on hold

Mar 30 2021

* Travel stocks fall on lockdown, reports of more COVID-19 cases

Australia shares fall after Brisbane announces lockdown

Mar 29 2021

* Treasury Wine marks worst day in over a month on China tariff

EMERGING MARKETS-Philippine leads Asian equities lower as U.S. bond yields surge

Mar 19 2021

* Rupiah set for fifth week of losses * Taiwan, Indonesia c. banks stand pat on interest rates * Philippine central bank to meet next Thursday * U.S.-China first high-level talks going on By Nikhil Subba and Nikhil Nainan March 19 Philippine shares fell nearly 3% on Friday, leading declines across Asia, as a rise in U.S. bond yields continued to sap appetite for the region's equities and currencies. Indonesia's rupiah and Taiwan's dollar fell around half a percent against a firmer greenback after their central banks left interest rates unchanged on Thursday. China stocks fell more than 2%. "Despite short-lived positive mood changers like this week's FOMC meeting, the medium-term thinking around higher U.S. yields is holding local currency bulls at bay," said Stephen Innes, chief global markets strategist at Axi. Yield on the 10-year U.S. Treasury note was around 1.70%, the highest level they have been since January last year, and was set to record eight straight weeks of gains. Emerging market central banks in Brazil and Turkey have aggressively raised interest rates to counter a rise in U.S. yields to stem capital outflows. Back in Asia, Indonesia's rupiah was down 0.4% and was set for a fifth week of losses, having lost 4% since Feb. 16. So far "in March, most Asian spot exchange rates that we track have depreciated past their 50- and 100-day moving averages," DBS analysts said. Indonesia's central bank has kept its key rates unchanged at a record low of 3.50%, but its head of monetary management told CNBC on Friday that it stands ready to against any currency volatility. "We expect the central bank to remain on hold in the near term despite inflation falling below the bank's 2%-4% target, as the currency is expected to remain pressured," said Nicholas Mapa, a senior economist at ING. In a similar move, Taiwan's central bank stood pat on interest rates, as expected, while raising the export-reliant island's annual economic growth forecast. The Philippine central bank will hold its policy meeting next Thursday at a time when the country is faced with rising COVID-19 cases and its stock market is the worst-affected among its regional peers so far this year. BofA Securities analysts said continued restrictions and slow vaccine rollout reinforce their view that growth in 2021 will be below the consensus forecast of 5.3%. Investors will also be watching the first high-level, in person talks between the U.S. and Chinese officials since Joe Biden took over as president. The world's two largest economies have already levelled sharp rebukes over each other's stance on several policy issues. HIGHLIGHTS: ** Indonesian 10-year benchmark yields up 6.2 basis points to 6.814% ** PLDT Inc, Aboitiz Power Corp and SM Prime Holdings in the Philippines ** The Philippines approved the emergency use of Russia's Sputnik V vaccine as COVID-19 cases spike Asia stock indexes and currencies at 0636 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY % YTD % Japan +0.06 -5.12 -1.41 8.56 China -0.05 +0.30 -2.11 -2.40 India +0.01 +0.75 -0.14 3.97 Indonesia -0.35 -2.77 -0.53 5.61 Malaysia -0.12 -2.28 -0.40 -0.35 Philippines -0.02 -1.36 -2.94 -9.85 S.Korea -0.61 -3.93 -0.86 5.78 Singapore +0.05 -1.63 0.08 10.42 Taiwan -0.61 +0.01 -1.34 9.08 Thailand -0.06 -2.85 -0.54 7.66 (Reporting by Nikhil Kurian Nainan and Nikhil Subba in Bengaluru; editing by Richard Pullin and Arun Koyyur)

EMERGING MARKETS-Philippine leads Asian equities lower as U.S. bond yields surge

Mar 19 2021

* Rupiah set for fifth week of losses * Taiwan, Indonesia c. banks stand pat on interest rates * Philippine central bank to meet next Thursday * U.S.-China first high-level talks going on By Nikhil Subba and Nikhil Nainan March 19 Philippine shares fell nearly 3% on Friday, leading declines across Asia, as a rise in U.S. bond yields continued to sap appetite for the region's equities and currencies. Indonesia's rupiah and Taiwan's dollar fell around half a percent against a firmer greenback after their central banks left interest rates unchanged on Thursday. China stocks fell more than 2%. "Despite short-lived positive mood changers like this week's FOMC meeting, the medium-term thinking around higher U.S. yields is holding local currency bulls at bay," said Stephen Innes, chief global markets strategist at Axi. Yield on the 10-year U.S. Treasury note was around 1.70%, the highest level they have been since January last year, and was set to record eight straight weeks of gains. Emerging market central banks in Brazil and Turkey have aggressively raised interest rates to counter a rise in U.S. yields to stem capital outflows. Back in Asia, Indonesia's rupiah was down 0.4% and was set for a fifth week of losses, having lost 4% since Feb. 16. So far "in March, most Asian spot exchange rates that we track have depreciated past their 50- and 100-day moving averages," DBS analysts said. Indonesia's central bank has kept its key rates unchanged at a record low of 3.50%, but its head of monetary management told CNBC on Friday that it stands ready to against any currency volatility. "We expect the central bank to remain on hold in the near term despite inflation falling below the bank's 2%-4% target, as the currency is expected to remain pressured," said Nicholas Mapa, a senior economist at ING. In a similar move, Taiwan's central bank stood pat on interest rates, as expected, while raising the export-reliant island's annual economic growth forecast. The Philippine central bank will hold its policy meeting next Thursday at a time when the country is faced with rising COVID-19 cases and its stock market is the worst-affected among its regional peers so far this year. BofA Securities analysts said continued restrictions and slow vaccine rollout reinforce their view that growth in 2021 will be below the consensus forecast of 5.3%. Investors will also be watching the first high-level, in person talks between the U.S. and Chinese officials since Joe Biden took over as president. The world's two largest economies have already levelled sharp rebukes over each other's stance on several policy issues. HIGHLIGHTS: ** Indonesian 10-year benchmark yields up 6.2 basis points to 6.814% ** PLDT Inc, Aboitiz Power Corp and SM Prime Holdings in the Philippines ** The Philippines approved the emergency use of Russia's Sputnik V vaccine as COVID-19 cases spike Asia stock indexes and currencies at 0636 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY % YTD % Japan +0.06 -5.12 -1.41 8.56 China -0.05 +0.30 -2.11 -2.40 India +0.01 +0.75 -0.14 3.97 Indonesia -0.35 -2.77 -0.53 5.61 Malaysia -0.12 -2.28 -0.40 -0.35 Philippines -0.02 -1.36 -2.94 -9.85 S.Korea -0.61 -3.93 -0.86 5.78 Singapore +0.05 -1.63 0.08 10.42 Taiwan -0.61 +0.01 -1.34 9.08 Thailand -0.06 -2.85 -0.54 7.66 (Reporting by Nikhil Kurian Nainan and Nikhil Subba in Bengaluru; editing by Richard Pullin and Arun Koyyur)

Tech, healthcare drag Australian shares lower as U.S. yields tick up

Mar 18 2021

* NZ down after data shows economic contraction in Q4 (Updates to close)

Australia shares snap 3-day winning streak ahead of Fed verdict

Mar 17 2021

* Fed likely to pen rosier forecasts, but no policy shift expected

Australia shares track Wall Street rally to end nearly 1% higher

Mar 16 2021

March 16 Australian shares finished nearly 1% higher on Tuesday to notch their best session in more than a week, as the benchmark tracked overnight gains on Wall Street, while lower U.S. bond yields prompted heavy buying in healthcare and technology stocks.

Australia shares end higher on strong China data; tech, mining stocks slip

Mar 15 2021

* China posts strong Jan-Feb economic data (Updates to close)

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