Asian FX, stocks mixed as Mideast worries rise

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FX,Stocks,Mixed

EMERGING Asian currencies and shares were a mixed bag on Friday, with the South Korean won and the Indonesian rupiah weakening the most, as geopolitical tensions in the Middle East clouded investor sentiment.

The prospect of Israel retaliating to Tehran's largest-ever assault prompted safe-haven inflows, boosting the greenback, while investors were on the lookout for a key US jobs report on Friday to gauge the possibility of another large rate cut by the Federal Reserve .'Despite a boost for risk assets emanating from the Fed's 50-bp cut and China stimulus, rising geopolitical risks and higher oil prices may act as a stumbling block,' analysts at Barclays wrote.

The ringgit was set for its worst week since March 2020, while the rupiah was headed for its worst weekly performance since April.Taiwan markets reopened on Friday after the impact of Typhoon Krathon.The Philippine peso, however, rose about 0.3 percent. The nation's inflation accelerated at its slowest rate in more than four years in September. This was preceded by easing inflation prints in South Korea and Indonesia.

 

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