Singapore Markets open in 39 mins
  • Straits Times Index

    3,294.82
    +10.88 (+0.33%)
     
  • S&P 500

    4,482.73
    -50.03 (-1.10%)
     
  • Dow

    34,715.39
    -313.26 (-0.89%)
     
  • Nasdaq

    14,154.02
    -186.23 (-1.30%)
     
  • BTC-USD

    40,734.30
    -1,068.60 (-2.56%)
     
  • CMC Crypto 200

    992.43
    -2.83 (-0.28%)
     
  • FTSE 100

    7,585.01
    -4.65 (-0.06%)
     
  • Gold

    1,838.80
    -3.80 (-0.21%)
     
  • Crude Oil

    86.29
    -0.61 (-0.70%)
     
  • 10-Yr Bond

    1.8330
    +0.0060 (+0.33%)
     
  • Nikkei

    27,772.93
    0.00 (0.00%)
     
  • Hang Seng

    24,952.35
    +824.50 (+3.42%)
     
  • FTSE Bursa Malaysia

    1,527.75
    -2.58 (-0.17%)
     
  • Jakarta Composite Index

    6,626.87
    +34.89 (+0.53%)
     
  • PSE Index

    7,239.28
    -22.26 (-0.31%)
     

EMERGING MARKETS-Asian FX, stocks pare gains on Moderna CEO's Omicron warning

·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • GIGNF
  • GIGNY
  • DFIHY
  • DFILF

* Singapore stocks drop ~4% in Nov * Ringgit worst performing currency among Asian FX this month * India GDP due at 1200 GMT * Philippine equity markets shut for holiday By Anushka Trivedi Nov 30(Reuters) - Emerging Asian equities and currencies trimmed gains on Tuesday on concerns that the Omicron coronavirus variant could prove more resistant to existing vaccines, while South Korean shares dropped over 2% on weak domestic data. Risk sentiment across Asia soured after the head of drugmaker Moderna told the Financial Times that current COVID-19 vaccines were unlikely to be as effective against Omicron as they have been against the Delta variant. Indonesia stocks reversed course to fall 0.5%, while equities in Thailand, China and Malaysia shaved gains to trade flat to 0.2% higher. "Having been scared by Delta, much of Asia is still in ultra-cautious mode, as their recovery was only just gathering steam with borders being tentatively reopened," said Jeffrey Halley, senior market analyst, Asia Pacific, at OANDA. Most Asian countries have already closed their borders to visitors from eight southern African nations where the variant was first detected, with fears creeping in that internal restrictions may be required again. Singapore's premier warned over the weekend that newly relaxed COVID-19 restrictions could be reinstated. Equities there fell 1.5%, down for the sixth day in a row. With a 4% loss this month, the index was also set to be the second-worst regional performer behind South Korea. Seoul shares slumped as much as 3% on Tuesday to an 11-month low, hit by authorities shelving plans to relax COVID-19 curbs as cases rise and disappointing factory output data. The Asian trade bellwether said manufacturing production in October shrank at its sharpest pace in nearly 1-1/2 years as global chip shortages dented car production. Among currencies, Singapore's dollar and the Indonesian rupiah eased 0.1% each, while the Malaysian ringgit held onto gains of 0.4%. The ringgit, however, has been the worst performing Asian currency in November with losses of almost 2% as crude prices slumped. Malaysia is a net oil exporter. Meanwhile, optimism over India's expected buoyant gross domestic data due later in the day wore off after Moderna's warning, with equities see-sawing between positive and negative territory. They were last up 0.2%. Philippine equity markets were closed for a holiday. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 2.5 basis points at 6.247% ** India's GDP due at 1200 GMT: Economists have projected data will show an 8.4% year-on-year growth in the July-September period, according to a Reuters poll last week​​ ** Genting Singapore and Dairy Farm International are top losers on Singapore's benchmark stock index, down 3.8% and 2.8%, respectively Asia stock indexes and currencies at 0725 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD % Japan +0.27 -8.81 -1.63 1.38 China +0.23 +2.44 0.03 2.61 India -0.02 -2.72 0.22 22.24 Indonesia -0.07 -2.02 -0.42 10.05 Malaysia +0.40 -4.74 0.24 -6.95 Philippines -0.10 -4.57 --- 0.86 S.Korea +0.43 -8.56 -2.42 -1.20 Singapore -0.04 -3.54 -1.44 8.15 Taiwan +0.01 +2.44 0.58 18.29 Thailand -0.27 -11.23 0.19 9.89 (Reporting by Anushka Trivedi in Bengaluru; Editing by Devika Syamnath)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting