USD/Asia trade mixed, with focus on.....>

DOLLAR-ASIA: USD/Asia trade mixed, with focus on the coronavirus crisis and

monetary/fiscal response. KRW has been the big mover, hammered by the BoK's 50bp

rate cut delivered after hours yesterday. South Korea's central bank brought its

7-day repo rate to a record low of 0.75%, with Gov Lee stressing that

policymakers can "respond with all available tools" if needed.

- USD/CNH has lost ground despite a weaker than expected daily fixing from the

PBoC. The rate showed below the psychological CNH7.0 barrier, but has failed to

consolidate there and sits above that level as we type. USD/CNY has tread water

and last trades near neutral levels, shy of CNY7.0.

- USD/HKD is a little bit stronger, HK unemployment hits later today.

- MYR struggles; y'day PM Muhyiddin unveiled social restrictions aimed at

limiting the spread of Covid-19, which will take effect tomorrow. IDR has also

been offered, with USD/IDR surging past IDR15,000 for the first time since '18.

- The Philippines shuttered domestic stock, bond & FX mkts until further notice,

after Pres Duterte locked down the capital region of Luzon. Hearing comments

that mkt closures have to do with transport disruptions, amid capital lockdown.