Asia stocks, currencies weaker amid lingering China concerns
* China shares post worst month since May 2019
* Coronavirus concerns weigh on equities in South-east Asia
* Taiwan economy grows by preliminary 7.47% in Q2, beats forecast
By Harish Sridharan
July 30 (Reuters) - Emerging Asian markets weakened on Friday, as Chinese equities reversed a brief rally from the day before, while Philippine shares sunk after the country imposed a lockdown in the capital region to contain spread of the Delta coronavirus variant.
Several regional equities, including China .SSEC , Philippines .PSI and South Korea .KS11 posted significant monthly drops, with severe coronavirus outbreaks and a brutal mainland selloff hurting sentiment.
Beijing's announcement of new rules barring for-profit tutoring in core school subjects resulted in a significant rout in the country's equity markets, and battered stocks in the education, property and tech sectors.
Reassurances from Chinese regulators appeared to have soothed investors' nerves temporarily, but stocks .SSEC in the country eyed their worst month since May, 2019.
"Despite the rebound led by Chinese stocks (yesterday), markets are still vigilant against more clampdowns in China and the hardening in US-China rivalry," Philip Wee, FX Strategist at DBC said in a note.
Meanwhile, shares in Manila .PSI sunk 3.5% to hit its lowest since late-may after President Rodrigo Duterte approved the imposition of lockdown measures in the Manila capital region. The lockdown is expected to cost the economy $4 billion.
The latest outbreak in Thailand has resulted in a slump in tourism amid stricter containment measures. The country's finance ministry slashed its 2021 economic growth forecast on Thursday to 1.3% from a previously predicted 2.3% expansion.
"Continued threats from the elevated daily case counts and rising challenges to the healthcare system and Thailand's sandbox tourism programme could be weighing on sentiments," said Maybank analysts.
Equities .SETI in the country were down 1.2% and on track to post their biggest monthly drop since September, 2020. The baht THB=TH was down 0.1%.
While the dollar languished near a one-month low following dovish remarks by the U.S. Federal Reserve, weakness persisted in several currencies across the region, with the yuan CNY=CFXS trading relatively flat.
Taiwan's statistics agency said that the island's economy grew by a preliminary 7.47% in the second quarter of 2021 from the same period a year earlier, beating a Reuters poll estimate of 6.05%.
** In the Philippines, top index loser was San Miguel Corp SMC.PS down 7.96%
** Thailand shares eye worst month since September 2020
** Philippines announces lockdown in Manila capital region
Asia stock indexes and currencies at
INDEX STOCKS STOCKS
DAILY YTD %
DAILY YTD %
-0.07 -5.75 .N225
-1.80 -0.59 China
-0.01 +1.10 .SSEC
-0.42 -2.18 India
-0.10 -1.74 .NSEI
0.17 13.04 Indonesia
+0.14 -2.90 .JKSE
+0.21 -4.92 .KLSE
-0.90 -7.86 Philippines PHP=
+0.11 -4.06 .PSI
-3.48 -12.18 S.Korea
-0.33 -5.57 .KS11
-1.24 11.44 Singapore
0.00 -2.33 .STI
0.10 11.96 Taiwan
-0.08 +1.85 .TWII
-0.89 17.07 Thailand
-0.06 -8.88 .SETI
Graphic: World FX rates Link
Thai shares Link
Reporting by Harish Sridharan in Bengaluru; editing by
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。