Feb. 23 (Bloomberg) -- Asian currencies rose, led by South Korea’s won, as speculation the U.S. government will increase its ownership of Citigroup Inc. helped shore up demand for riskier assets.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies excluding the yen, climbed from the lowest level in three months after the Wall Street Journal reported that the U.S. may end up holding as much as 40 percent of Citigroup’s common stock, citing people it didn’t identify. The won snapped a nine-day slide on speculation policy makers intervened to stem losses.
“The market found some support in the last few minutes, supporting Asian currencies” said Daniel Soh, an economist at Forecast Pte. in Singapore. Investors “reacted positively to the Citigroup news.”
The won gained as much as 2 percent to 1477.00 a dollar before trading at 1489.00 as of 12:28 p.m. local time, according to Seoul Money Brokerage Services Ltd. Singapore’s dollar rose 0.8 percent to S$1.5229 and Malaysia’s ringgit advanced 0.7 percent to 3.6625.
The won gained the most in a month after it last week declined below 1,500 per dollar for the first time since November. more...
Tidak ada komentar:
Posting Komentar