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Around Asias Markets: Ringgit could still have room to grow

Around Asias Markets: Ringgit could still have room to grow The Malaysian ringgit may extend four months of gains on optimism that growth in exports will add to the countrys trade surplus and generate demand for the currency, strategists at UBS and Westpac Banking say. Malaysia is among Asian countries under pressure from Group of 7 nations to allow faster gains to fix lopsided trade flows. The U.S. Treasury last week said China had made far too little progress in easing control over its exchange rate. China and Malaysia both ended currency pegs to the dollar July 21.

Japan’s benchmark Nikkei 225 rose sharply in afternoon trade to set a five-year closing high as traders bet continuing U.S. dollar strength would benefit exporters.

Japan's benchmark Nikkei 225 rose sharply in afternoon trade to set a five-year closing high as traders bet continuing U.S. dollar strength would benefit exporters. The Nikkei closed at 16,194.61, a gain of 225.21 points or 1.41%. The broader Topix rose 0.98% or 15.99 points to close at 1,653.92. Data released in the morning in Tokyo showed November industrial production rose 1.4% from a month earlier, disappointing consensus estimates among economists of a beefier 1.9% gain. Shares listed on the first section of the Tokyo Stock Exchange are estimated to yield an average 0.95% for fiscal 2005, the lowest level since Sept. 2000.

Around Asia’s markets: Qualms arise over bonds in Indonesia

Around Asia's markets: Qualms arise over bonds in Indonesia Indonesia's dollar-denominated government bonds are poised to fall and will probably trail their Asian counterparts in 2006, according to the brokerage firm Calyon. A doubling in fuel prices in Indonesia last year and record interest rates will slow economic growth to 3.9 percent in 2006 from 5.4 percent in 2005, said Dilip Parameswaran, head of Asian credit research at the securities arm of Crédit Agricole. Gains in the securities in 2005 went too far given the outlook for the economy, he said. Indonesia has $3.9 billion of dollar-denominated debt. It sold

Dollar Flat Against Yen in Asia

Dollar Flat Against Yen in Asia The dollar was flat against the yen in Asia Tuesday after overnight data showed that U.S. sales of existing homes fell for a fifth consecutive month in August, further indications of a slowdown. The U.S. dollar was trading at 116.50 yen on the Tokyo foreign exchange market at 3 p.m. (0600 GMT) Tuesday, edging up from 116.48 yen from late Monday in New York. The euro fell to US$1.2750 from US$1.2757. U.S. investment banks and overseas hedge funds sold the dollar to as low as 116.26 yen in early trading, but aggressive buying interest from Japanese

Asia surges on profits

Asia surges on profits Asian stocks surged on Thursday as leading technology companies such as Advantest Corp. posted sturdy quarterly profits, while the dollar extended losses on signs that the U.S. economy was cooling down. The yen slumped to a record low against the euro on the view that yen interest rates will stay unattractive to investors when compared with dollar or euro rates for many more months. The dollars overnight decline lifted gold prices by about $6 an ounce to $628, as the dollar-denominated metal became cheaper for Asian and European buyers. More : edition.cnn.com