Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
3Activity
0 of .
Results for:
No results containing your search query
P. 1
2011-06-10 UOB Asian Markets

2011-06-10 UOB Asian Markets

Ratings: (0)|Views: 10|Likes:
Published by kjlaqi

More info:

Published by: kjlaqi on Jun 10, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

06/10/2011

pdf

text

original

 
UOB Economic-Treasury Researchwww.uob.com.sg/researchCompany Reg No. 193500026Z
Asian Markets
Friday, 10 June 2011
News Highlights
n
Asian currencies weakened against the USD yesterday, asa weak Australian jobs number set a dour tone for theAsian trading session. Added to that, persisting concernsabout the weak US economy and dithering by Eurozoneofficials about rescuing Greece still abound.
KRW andTWD were both 0.2% weaker to 1082.90/USD and 28.780/ USD respectively. The PHP was slightly higher at 43.23 from43.24 on Wed, while the THB was 0.5% weaker at around30.43 at the close of Asian trade yesterday. The IDR was atad lower at 8520 compared to 8515, while the MYR was0.1% weaker at 3.019.
n
SGD was weaker at the close of Asian session at 1.2298compared to 1.2288. The SGD was further weighed downat the close of the LDN-NY trade, to 1.2313.
On the trade-weighted basis, SGD NEER has gone up to around 1.7%this morning, from the 1.5% level yesterday. A range of 1.2254-1.2314 for the USD/SGD might be likely for today,corresponding to 1.5-2.0% above the midpoint of the policyband.
n
RMB was nearly flat against the USD, with the PBoC settingthe RMB weaker yesterday compared to a record centralparity rate on Wed.
The RMB was at 6.4759, compared to6.4757 on Wed. 1Y RMB NDF was lower at 6.381/USDagainst 6.369/USD from 6.3540/USD on Tue, pricing in alower appreciation pace of 1.7%.
This morning, the PBoCcontinued to set the RMB weaker at 6.4853/USD vs6.4830/USD.
n
Asian stock indexes were mostly lower yesterday, with riskappetite receding on the somber economic data fromsofter Australian jobs numbers and slow US recovery aswell as uncertainty surrounding Greece’s bailout.
TheNikkei was up 0.2%, but the Shanghai CI was 1.7% lower,the Hang Seng fell 0.2%, and the Kospi lost 0.6%. In the SEAsian markets, the STI retreated 0.2%.
n
Bank of Korea this morning raised its key interest rate to3.25% from 3.00%
, resuming its tightening moves totemper inflation, after maintaining the same rate in the pasttwo meetings.
n
The Ministry of National Development in Singaporereleased 17 private residential sites onto its confirmed listas part of its land supply program for the 2H 2011.
Theyield from these sites is about 8100 residential units, thesame as the supply from the confirmed list in the first half.The moves will help ease the climbing property prices, butmay spark fears about oversupply in the coming months.
Key Events
DateEvent
UOB’s Estimation of SGD NEER
(as at 10 June 2011 at 9am)Assuming 3.0% on each side of the pivot point:Lower-End.........................................................................1.2893Upper-End.........................................................................1.2142Mid-Point.........................................................................1.2518
Interest Rates
CurrentNext CB MeetUOB’s Forecast
Stock Indices
(as at 09 June 2011)Closing% chgSingapore Straits Times3097.57-0.17Kuala Lumpur Composite1550.89-0.06 Jakarta Composite3806.19-0.51Bangkok SET1016.85+0.22Philippines Composite4224.34-0.73Taiwan TAIEX9000.94-0.07Seoul Composite2071.42-0.57Hong Kong Hang Seng22609.83-0.23Shanghai SE Composite IX2703.35-1.71Mumbai Sensex 3018384.90-0.05SGD 3-Mth SIBOR0.44%--MYR O/N Policy Rate3.00%07 Jul3.00%IDR O/N Rate6.75%12 Jul6.75%THB 1-Day Repo2.75%13 Jul3.00%PHP O/N Reverse Repo4.50%16 Jun4.50%TWD Discount Rate1.75%24 Jun1.75%KRW Base Rate3.00%10 Jun3.25%HKD Base Rate0.50%-0.50%CNY 1-Yr Wking Capital6.31%-6.56%
Foreign Exchange Rates
(as at 09 June 2011)As at 10 JuneAsian HighAsian LowNY HighNY Low
SGD1.22931.23201.22761.23441.2292MYR3.01603.02203.0080--IDR8,5188,5268,515--THB30.3930.4430.39--PHP43.2143.2243.22--TWD28.7128.7828.66--KRW1,080.501,085.001,081.60--HKD7.78197.78437.7787--CNY6.47506.48056.4730--

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->