Overseas investors were net buyers of bonds from emerging Asian markets, excluding China, in July on hopes the United States might slow the pace of interest rate hikes as its economy feels the heat, while concerns over higher inflation levels subsided.
"Pressures have eased recently due some market expectations of a dovish Fed pivot and an attendant pull-back in the broad US Dollar," he added, referring to speculation the U.S. Federal Reserve might relax its pace of monetary policy tightening. Investors also scaled back expectations for the size of a Federal Reserve rate hike next month, as U.S. inflation slowed in July.
South Korean economic growth unexpectedly picked up in the second quarter, boosted by strong consumption.
Singapore Latest News, Singapore Headlines
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