Most Asian shares jump ahead of key US, regional economic data
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Shares in major Asian emerging economies gained on Monday; Taiwan's benchmark stock index led regional gains and was up 1.4%; South Korean shares jumped 1.2%; MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%; Malaysian ringgit and South Korean won depreciated 0.5% and 0.6% respectively against the US dollar; China is set to issue retail sales and industrial production figures on Thursday; Chinese yuan and Shanghai stocks were down about 0.2%; Philippine central bank's key policy rate decision on Thursday; Malaysia's second-quarter gross domestic product (GDP) data on Friday; Bank of America analysts expect Malaysia's second-quarter final GDP to be revised upwards by 30 basis points (bps) to 6.1% on a year-on-year basis; Philippine peso weakened 0.1%; Indian rupee was flat; Indonesian rupiah edged 0.3% lower; US consumer prices and retail sales for July due later in the week; Markets are pricing in a 53.5% chance of a 25 bps cut and a 46.5% probability of a 50 bps interest rate cut at the Fed's September meeting; Data on US industrial output, regional manufacturing, and consumer sentiment expected later this week.
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https://theedgemalaysia.com/node/722476
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