"Emerging Markets" Asian currencies steady, stock markets mixed, focus on US-Ukraine talks and Jackson Hole central bank annual meeting

Asian currencies remained stable, stock markets showed mixed results, and investors focused on the talks between Trump and Zelensky as well as the Federal Reserve's Jackson Hole annual meeting. The Malaysian ringgit and New Taiwan dollar slightly declined, while the US dollar index rebounded, with the market expecting an 84.2% probability of a 25 basis point rate cut by the Federal Reserve next month. Southeast Asian stock markets performed unevenly, with Singapore and Thailand's stock markets declining, while Taiwan's stock market reached a historic high. Concerns over tariff policies affected investor sentiment

Reuters, August 18 - On Monday, Asian currencies remained stable, and stock markets showed mixed results as investors awaited the meeting between U.S. President Trump and Ukrainian President Zelensky, as well as the Federal Reserve's Jackson Hole central bank annual meeting.

The Malaysian Ringgit (MYR=) and the New Taiwan Dollar (TWD=TP) fell by 0.2% and 0.1%, respectively, while other currencies in the region were generally sluggish.

The U.S. Dollar Index (=USD) rose, recovering from last week's decline, as traders scaled back bets on a significant interest rate cut by the Federal Reserve in September.

The market currently sees an 84.2% chance of a 25 basis point rate cut by the Federal Reserve next month.

The market focus of the day is the meeting between Trump and Zelensky, as Washington pressures Kyiv to quickly reach a peace agreement to end the war in Ukraine.

Southeast Asian stock markets showed mixed results, with the Singapore stock market (.STI) down 0.8%. The Thai stock market (.SETI) fell 0.4%, while the Taiwanese stock market (.TWII) rose 0.6%, reaching a historical high.

The South Korean stock market (.KS11) dropped 1.3%, led by declines in chip stocks, following reports that U.S. President Trump would announce tariffs on semiconductor imports in the coming weeks.

OCBC Bank foreign exchange strategist Christopher Wong stated: "While expectations of a rate cut by the Federal Reserve at the next meeting still support the market, there are concerns about tariffs on sectors such as pharmaceuticals, semiconductors, and even metals."

Asian stock and currency markets as of 05:15:00 GMT

Country/Currency Code Daily Change Year-to-Date Change Index Code Daily Change Year-to-Date Change

Region Decline

Japan Yen (JPY=) -0.14% +6.65% Nikkei Index (.N225) +0.97% +9.78%

China Renminbi

XS

India Rupee (INR=IN) +0.22% -1.99% NSE Index (.NSEI) +1.41% +5.64%

Indonesia Rupiah (IDR=) 0.0% -0.40% Jakarta Composite Index (.JKSE) -0.41% +11.56%

Malaysia Ringgit (MYR=) -0.26% +5.85% Kuala Lumpur Composite Index (.KLSE) +0.47% -3.57%

Philippines Peso (PHP=) +0.04% +1.92% Philippine Composite Index (.PSI) +0.02% -2.06%

South Korea Won

Singapore Dollar (SGD=) +0.07% +6.51% Straits Times Index (.STI) -0.72% +10.89%

Taiwan New Taiwan Dollar (TWD=TP) -0.06% +9.17% Weighted Index (.TW) +0.72% +6.40%

II

Thailand Thai Baht (THB=TH) 0.0% +5.74% Composite Stock Price Index <.SE -0.51% -10.51%