Asian currencies subdued, stocks gain; regional central bank decisions awaited

Asian stock markets rose on Monday and currencies declined as investors assessed China's underwhelming stimulus measures, while focus was on key interest rate decisions by central banks in Indonesia, Thailand and the Philippines later this week.

The onshore yuan was 0.1% lower while stocks in Shanghai rallied 1.7%. The South Korean won inched 0.4% lower while the Malaysian ringgit dipped 0.1% as the U.S. dollar extended gains. The BSP started its easing cycle in August and data indicating slower annual inflation in September has given the central bank room to cut rates further.

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