EM ASIA FX-Rupee leads Asia FX gains on solid China data, easing Syria worries

Reuters

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SINGAPORE, Sept 10 (Reuters) - The Indian rupee led rises

among emerging Asian currencies on Tuesday as

stronger-than-expected China data fuelled more hopes of a

stabilisation in the world's second-largest economy.

China's factory output grew at its fastest pace in 17 months

while investment and consumption beat market forecasts,

increasing confidence among investors that the economy has

halted a slide and is building some momentum.

Regional currencies found further support from easing

concerns of a U.S. military strike against Syria, which saw

crude oil prices retreat.

The rupee hit a two-week high on expectations of a

narrower trade deficit and hopes for more market-friendly

measures from the new central bank chief Raghuram Rajan.

The Philippine peso touched its highest in more

than three weeks on demand from real money funds after solid

July exports data.

The Malaysian ringgit advanced on short-covering

against both the U.S. dollar and the Singapore dollar

.

Continuous stock inflows and exporter demand lifted the

South Korean won to its highest since Feb. 28.

The Taiwan dollar hit a three-month high on foreign

financial inflows for domestic equities.

But those currencies gave up some of their initial gains as

foreign exchange authorities were spotted intervening to stem

gains, traders said.

Meanwhile, the Indonesian rupiah's indicative prices

lost nearly 3 percent to its weakest since April 2009 on dollar

demand from local companies.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0800 GMT

Currency Latest bid Previous day Pct Move

Japan yen 100.06 99.57 -0.49

Sing dlr 1.2700 1.2692 -0.06

Taiwan dlr 29.728 29.825 +0.33

Korean won 1083.83 1086.80 +0.27

Baht 32.15 32.16 +0.03

Peso 43.83 44.24 +0.94

Rupiah 11490.00 11170.00 -2.79

Rupee 64.21 65.24 +1.60

Ringgit 3.2790 3.2935 +0.44

Yuan 6.1207 6.1210 +0.00

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 100.06 86.79 -13.26

Sing dlr 1.2700 1.2219 -3.79

Taiwan dlr 29.728 29.136 -1.99

Korean won 1083.83 1070.60 -1.22

Baht 32.15 30.61 -4.79

Peso 43.82 41.05 -6.32

Rupiah 11490.00 9630.00 -16.19

Rupee 64.21 54.99 -14.36

Ringgit 3.2790 3.0580 -6.74

Yuan 6.1207 6.2303 +1.79

(Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)

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