Thai baht gains on quarantine-free travel hopes; Asia forex gains

Emerging Markets: Thai baht gains on quarantine-free travel hopes; Asia forex gains - Reuters

18/1/2022 7:56:00 AM

Emerging Markets: Thai baht gains on quarantine-free travel hopes; Asia forex gains - Reuters

BENGALURU (Jan 18): Thailand's baht rose on Tuesday on hopes that the tourism-reliant country waives quarantine for vaccinated visitors again, while its emerging market peers gained on a US dollar unperturbed by a rise in Treasury yields. Treasuries rose along the curve during Asia hours, with two-year yields, which track short-term rate expectations, crossing 1% for the first time since Feb 2020, as investors brace for a more hawkish Federal Reserve.Emerging Asian stock markets were mostly higher, though barring China

BENGALURU (Jan 18): Thailand's baht rose on Tuesday on hopes that the tourism-reliant country waives quarantine for vaccinated visitors again, while its emerging market peers gained on a US dollar unperturbed by a rise in Treasury yields.Treasuries rose along the curve during Asia hours, with two-year yields, which track short-term rate expectations, crossing 1% for the first time since Feb 2020, as investors brace for a more hawkish Federal Reserve.

Emerging Asian stock markets were mostly higher, though barring China and the Philippines, gains were largely capped to below half a percent.Investors are eyeing the Fed's Jan 25-26 meeting following a chorus of hawkish statements by officials in recent weeks. While markets do not expect an interest rate hike next week, bets are growing that the central bank will start tightening in March.

Read more: The Edge Malaysia »

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Tony Fernandes: AirAsia aims to be the largest food delivery and eHailing company in Asia - SoyaCincauAirAsia wants to be Asia's largest food delivery and eHailing player. Does it have what it takes to take on Grab and Gojek? Better for consumers. not anytime soon, ordered via airasia app, food reached an hour later, delivered via lalamove. only using it to redeem points. Buy Nasi Lemak, want timun, add Rm0.50 😂

AirAsia aims to become biggest food delivery, ride-hailing firm in Asia | The Malaysian InsightThis comes after successful acquisition of local online platform Delivereat.

Fernandes: AirAsia aiming to become largest food delivery, ride hailing company in AsiaGEORGE TOWN (Jan 16): AirAsia Group aims to become Asia’s largest food delivery and ride-hailing company, besides just offering flights in the region, following the successful acquisition of local online food delivery platform, Delivereat, recently.Chief Executive Officer Tan Sri Tony Fernandes said he is confident that the airasia food and Super App can become one of the biggest food delivery as well as ride-hailing companies and online travel agencies in Asia.'When (I started) AirAsia, I always wondered if we Refund first talk later Bila airasia nak refund oi KerajaanGagal AirAsiaGagal Food delivery might delay also. If food spoilt no refund of course. Hahah…

A BENGALURU (Jan 18): Thailand's baht rose on Tuesday on hopes that the tourism-reliant country waives quarantine for vaccinated visitors again, while its emerging market peers gained on a US dollar unperturbed by a rise in Treasury yields. Treasuries rose along the curve during Asia hours, with two-year yields, which track short-term rate expectations, crossing 1% for the first time since Feb 2020, as investors brace for a more hawkish Federal Reserve. Emerging Asian stock markets were mostly higher, though barring China and the Philippines, gains were largely capped to below half a percent. Investors are eyeing the Fed's Jan 25-26 meeting following a chorus of hawkish statements by officials in recent weeks. While markets do not expect an interest rate hike next week, bets are growing that the central bank will start tightening in March. In Thailand, the government is considering bringing back a quarantine waiver for vaccinated visitors, its health minister said. If approved, the waiver could begin by Feb 1, he added. "Expect the baht to benefit from this feel-good development," analysts at OCBC said. The baht gained as much as 0.7% early on to its highest level since Nov 22 last year, before paring much of those gains to trade 0.3% higher. Stocks also briefly scaled a 2019-high. "This push may well be speculative, as there are still no signs that tourist inflows will return in sufficiently large numbers to justify sustained baht appreciation," OCBC added. Stocks in Shanghai climbed 1%, a day after better-than-expected economic growth in the fourth quarter was partly overshadowed by weak retail sales. The central bank had also cut a key lending rate and analysts expect more to come. China's top economic planner said on Tuesday that policymakers will quickly roll out more measures to boost demand. "The biggest downside risk to the market's view on Fed hikes lies with China," Eugene Leow, a senior rates strategist at DBS said, referring to headwinds facing the world's second-largest economy. "While GDP growth did surprise on the upside and the PBoC have taken steps to ease liquidity and cut policy rates, there is still significant stress in property credits." In South Korea, the won advanced 0.4% while stocks dropped 0.3%. Retail subscriptions open for LG Energy Solution's US$10.8 billion initial public offering and close on Wednesday. Philippine shares regained most of the last two sessions' losses, gaining 1% with Aboitiz Power up the most. Central banks in Malaysia and Indonesia end will conclude two-day policy meetings on Thursday, though no change in policy is expected. Markets in Malaysia were closed for a holiday. Highlights: Indonesian 10-year benchmark yields up 1 basis points at 6.398% JG Summit Holdings Inc and International Container Terminal Services Inc were also among the top gainers in the Philippines The Bank of Japan upgraded its inflation forecasts and maintained its ultra-loose monetary policy Subscribe to Mid-day email alert We deliver news to your inbox daily