* Investors eye Fed meeting ending on Wednesday
* South Korea posts decade-high GDP growth in Q2
* Philippine stocks rebound from Monday"s slide
By Harish Sridharan
July 27 (Reuters) - Emerging Asian equities rose slightly on
Tuesday, tracking Wall Street"s strong gains overnight, while
concerns surrounding tighter Chinese regulation persisted ahead
of the U.S. Federal Reserve"s two-day policy meeting.
Philippine shares stood out as Manila"s benchmark
index rose 2.4% in its best day since June 2 after shedding more
than 3% over the previous two sessions.
Shanghai stocks dropped 2.5%, extending their heavy
losses into a third session as worries over the impact of
stricter government oversight of the private education sector
soured sentiment.
"Investors in China are unclear on how to cope with the
uncertain regulatory environment, which is causing nervousness
in the Chinese equity markets," said Sim Moh Siong, a FX
strategist at Bank of Singapore.
"The question about spillover (from China) is still lurking
in the background."
Major U.S. stock indexes eked out record closing highs for a
second straight session, finding some stability after days of
turbulence, as investors were optimistic ahead of earnings from
heavyweight technology and internet names this week.
Meanwhile, the won firmed 0.4% to be among the
best performers in the region, while Seoul stocks
advanced after data showed the country"s economy expanded at its
fastest annual pace in a decade in the second quarter.
Malaysia and Singapore equities added 0.1%,
while Thai and Indonesian stocks dipped.
Asian currencies were quite mixed, with the peso,
rupiah and Malaysian ringgit trading flat to 0.1%
lower, as the near-term economic outlook for several countries
remained cloudy due to surging coronavirus cases.
Thailand on Monday reported record high COVID-19 infections
for a second consecutive day, while neighbouring Malaysia also
remains under a stringent lockdown.
The focus is now on the U.S Federal Reserve"s policy
meeting, which culminates on Wednesday, as investors look for
clues on the central bank"s stance on monetary policy and the
timeline to pare back stimulus.
Highlights
** Indonesian 10-year benchmark yields up 1.5 basis points
at 6.33%
** In the Philippines, top index gainer was International
Container Terminal Services Inc, up 5.78%
** Top gainer on the Singapore STI was SATS Ltd
, up 2.03%
Asia stock indexes and
currencies at 0718 GMT
COUNTRY FX RIC FX FX INDE STOCKS STOCK
DAILY YTD % X DAILY S YTD
% % %
Japan +0.23 -6.22 <.N2 0.49 1.92
25>
China
مشاركة :