Coronavirus Concerns Weigh

Mostly weaker across Asia with coronavirus concerns sapping risk appetite.

• CNH: The PBOC set the central USD/CNY mid-point at CNY6.4578, virtually in line with sell-side estimate. Spot USD/CNH edged higher, recouping Friday's losses.
• SGD: Singapore dollar is weaker, USD/SGD grinding higher throughout the session and currently bumping up against resistance at a 23.6% retracement level.
• KRW: The won is weaker; Health authorities brace for revamped social distancing rules while pushing to accelerate vaccinations.
• TWD: Taiwan dollar is slightly stronger, the central bank said over the weekend that the economy and financial system were healthy, pushing back against a note in which Nomura says Taiwan could be vulnerable to a crisis.
• MYR: Ringgit is stronger, PM Muhyiddin announced an extension of the nationwide lockdown until the daily Covid-19 case count falls below 4,000.
• IDR: Rupiah is weaker, Health Min Sadikin confirmed that the gov't has met the target of administering 1mn vaccinations per day and has enough supply of jabs to maintain the current rate of 1.3mn jabs/day.
• PHP: Peso has fallen, Senator Richard Gordon is considering running for president in 2022 and admitted that he is looking for a suitable running mate.
• THB: Baht dropped, Thailand ordered restaurants in Bangkok and neighbouring regions to halt dine-in services for a month.