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Tech Sensitive Plays Benefiting From Equity Rebound

ASIA FX

USD/Asia pairs are lower across the board, although tech sensitive plays like KRW and TWD are outperforming. South Korean and Taiwan share indices are higher, both by around 1.25%. The follows the positive lead from Nasdaq futures, which came after Nvidia gave a bullish outlook in its earnings update earlier today.

  • Spot USD/KRW is back to the 1295/96 region, around 0.75% sub yesterday's closing levels. A more hawkish tone from the BoK post today's on hold decision, may also be helping at the margins.
  • USD/TWD spot is around 0.40% lower, last near 30.38. USD/CNH is around 0.20% lwoer, last close to the 6.8900 handle.
  • In SEA, USD/PHP is back to 55.00, +0.35% firmer in PHP terms. But other regional currencies are seeing more muted gains.
  • The tone in the majors is higher beta plays outperforming the likes of yen etc.
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