Korea won

[arafiee]

Down!!!!

Korea Won Down To 2-Week Low On Offshore Selling; Bonds Steady :-?
AUGUST 25, 2011, 4:19 A.M. ET.S

SEOUL (Dow Jones)--The South Korean won fell to a two-week low against the U.S. dollar Thursday as offshore players actively sold the local currency amid uncertainty ahead of U.S. Federal Reserve Chairman Ben Bernanke's speech Friday.

Traders said offshore players' risk-off won sales, combined with dollar short-covering, reflected a growing view that the much-awaited speech may disappoint financial markets, and that even if a further round of quantitative easing were announced, it would not fix the slowing economy.

During the session, the dollar peaked at KRW1,089.10, its highest since Aug. 11, despite some dollar selling by exporters and firm intraday gains in the local stock market, which usually strengthen won sentiment.

"Risk appetite remains very weak," said Woori Futures currency analyst Byeon Ji-young. "The dollar's resistance is expected to remain intact at around KRW1,090 until Friday's speech, but it won't be too surprising if we see any gains above that level. How strongly investors cover their short dollar positions will likely decide its upside potential."

Domestic government bonds were little changed from the previous session's close. Prices were lower in the morning, tracking declines in U.S. Treasurys Wednesday and inflation worries after a Bank of Korea survey result Thursday.

The central bank's survey showed that South Korean consumers expect inflation to reach 4.2% over the next 12 months, above July's 4.0%.

But bond prices later recovered as investors' focus remained more on global growth worries than domestic inflation, analysts said.

"Any bond weakness will likely be short-lived amid the ongoing concerns about the global economy," said Hong Jung-hye, a fixed-income analyst at Shinyoung Securities. "Yields are expected to move sideways, until the Fed chief's speech provides any fundamental leads."

She pegged the three-year yield to move in a 3.40%-3.60% band in the near term.

September bond futures ended flat at 104.28.

(http://online.wsj.com/article/BT-CO-20110825-703424.html)



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[arafiee]

WON - Demand tinggi !!!!

WSJ, AUGUST 26, 2011, 4:40 A.M. ET.
S Korea Won Up On Demand From Exporters, Eyes On Bernanke's Speech:-?

SEOUL (Dow Jones)--The South Korean won rose against the U.S. dollar late Friday on active buying by exporters and as other regional currencies' gains against the greenback gave the won an additional boost.

Trade was thin, however, as investors awaited U.S. Federal Reserve Chairman Ben Bernanke's speech at Jackson Hole later in the global day. The session's transaction volume was $8.59 billion, less than last week's daily average of $9.30 billion.

"Investors expect Bernanke to come up with some clever ideas to ease worries about the slowing U.S. economy," said Samsung Futures currency analyst Jeong My-young.

She added that the market could turn volatile next week after market participants have had time to analyse Bernanke's comments. "It will take some time for the local currency to find a clearer direction amid the global economic uncertainty," Jeong said, referring to the sovereign-debt crises in the U.S. and Europe. :-?

Korean government bonds ended lower as some investors sold the safe-haven assets following gains in local stock prices in the afternoon session. Others were cautious about buying treasurys before the release of key domestic economic data, due next week, on consumer prices and industrial output, a bond trader at a local bank said.

"But yields' upsides will likely be limited" because many investors are waiting for bargain-hunting opportunities due to lingering global growth concerns, the trader said.

September bond futures declined 9 ticks to 104.19. Foreign investors were net sellers for a second consecutive day, selling 2,838 contracts Friday.

-By Jieun Shin, Dow Jones Newswires; 822-3700-1905; [email protected]

(http://online.wsj.com/article/BT-CO-20110826-703303.html)



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[arafiee]

WON vs NT!!!!!

NT more stable than won: bank

MANAGED FLOAT:Taiwanese regulators said they could not manipulate the value of the NT against the US dollar despite competition from South Korea’s products:-?

By Jason Tan / Staff Reporter
Taipei Times

The central bank yesterday said the New Taiwan dollar has been more stable than the South Korean won over the past three-and-a-half years, which has helped local exporters to reduce foreign exchange risk.

The comments came after Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman Morris Chang (張忠謀) last Friday criticized government agencies, including the central bank, of not doing enough to protect local companies from the impact of strong NT dollar gains against the US dollar.

In response, the central bank said in an e-mailed statement that it was not allowed to control the foreign exchange rate and that the bank opted for the policy of keeping the local currency at a managed floating rate.

In the more than three years since Dec. 31, 2007, the NT dollar’s fluctuation rate against the greenback was 4.15 percent, much tamer than the won’s rate of 14.51 percent, the statement said.
As the won’s fluctuation rate was 3.5 times higher than that of the NT dollar, Taiwanese firms in fact enjoyed lower currency exchange risks and that boosted their export business, the central bank said.

Chang said the foreign -exchange rate could make or break a company.


He said the South Korean government had done a better job in capping the appreciation of the won against the US dollar to protect its companies over the past year.

“As Taiwanese exporters book costs in New Taiwan dollars, the foreign exchange rate can affect their competitiveness,” Chang said.

The Japanese government has also sought to ease the strains of a strong yen recently, not to mention Beijing’s tough stance on keeping the yuan steady even under massive pressure from the US, Chang said.

Taiwan and South Korea -are competitors in similar categories of export products, and the central bank said it understood the concerns of Taiwanese companies, but said it could not manipulate the NT dollar because it had adopted a “managed floating” mechanism.

Taiwan and South Korea are long-time rivals in the technology field.

South Korean bigwigs such as Samsung Electronics Co and LG Electronics Inc manufacture products from handsets and LCD panels to chips and computers, products that are also manufactured by Taiwanese firms, including TSMC, HTC Corp (宏達電) and Acer Inc (宏碁).

Although a stronger NT dollar can impact companies’ profitability, on the other hand, Taiwan enjoys imported goods at a cheaper rate and that helps stabilize prices of domestic consumables, the statement said.

Taiwan’s Consumer Price Index (CPI) expanded 1.43 percent during the January to July period, compared to South Korea’s 4.4 percent, according to central bank statistics.

Taiwan’s CPI climbed 0.96 percent last year, while South Korea’s advanced 2.93 percent. In 2009, Taiwan’s CPI contracted 0.87 percent, but South Korea’s rose 2.83 percent.

The central bank said it would closely monitor the currency fluctuation, but intervention would only come when there are abnormalities such as huge capital inflow or outflow in the market that sends the NT dollar soaring or dropping on a great level.

(http://www.taipeitimes.com/News/biz/archives/2011/09/05/2003512458)



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[arafiee]

UP vs DOWN !!!!

Asian Currencies Decline, Led by South Korea’s Won, on Weak U.S. Jobs Data:-?
By Lilian Karunungan - Sep 5, 2011 11:07 AM GMT+0800, Bloomberg

Asian currencies declined, led by South Korea’s won, as weaker-than-expected jobs data prompted concern the world’s largest economy may slip into recession, dimming the region’s export outlook.

The MSCI Asia-Pacific Index of shares lost more than 2 percent after a report on Sept. 2 showed U.S. payrolls were unchanged last month. Economists expected an increase of 68,000, a Bloomberg survey showed. Germany’s top constitutional court will rule this week in three cases challenging the country’s participation in the Greek bailout and the euro-area rescue fund.

“U.S. payrolls were very disappointing,” said Jonathan Cavenagh, a currency strategist at Westpac Banking Corp. in Singapore. “The potential for fresh policy stimulus measures from the Federal Reserve should limit the fallout for equity markets and Asian currencies.”

The won weakened 0.6 percent to 1,068.95 per dollar as of 11:40 a.m. in Seoul, according to data compiled by Bloomberg.

Malaysia’s ringgit fell 0.3 percent to 2.9750, while the Philippine peso dropped 0.2 percent to 42.23. China’s yuan declined 0.08 percent to 6.3879.

The U.S. payroll reading was the weakest since September 2010. The Fed, which is scheduled to review policy at a Sept. 20-21 meeting, has kept its benchmark interest rate at a maximum 0.25 percent since 2008 and announced two rounds of bond buying that boost the supply of dollars....

(http://www.bloomberg.com/news/2011-...-south-korea-s-won-on-weak-u-s-jobs-data.html)



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[arafiee]

Won go down !!!!!

WSJ, TEMBER 14, 2011, 4:21 A.M. ET
S Korea Won Down To Lowest Since Late March; Bonds Higher:-?

SEOUL (Dow Jones)--The South Korean won fell to its lowest in more than five months against the U.S. dollar Wednesday, as local financial markets resumed trading after a four-day weekend and caught up on fears over sovereign debt contagion from Greece and the financial health of European banks.

Traders said dollar sales by exporters and suspected currency-market intervention from the central bank provided some support to the won, but risk-off dollar demands from offshore players dominated to lift the dollar to KRW1,107.90--the highest level since March 30, when it touched KRW1,110.

According to five Seoul-based traders, the Bank of Korea may have sold the dollar near the KRW1,106 mark during Wednesday's session to stem won's sharp fall. Two of them estimated the BOK's suspected dollar sales to be around $1 billion. The central bank was last suspected of intervening in the market on Aug. 9, when it likely sold the dollar around the KRW1,096 level.

An official with the central bank's foreign-exchange market team declined to comment.

Traders said the won's weakness will likely continue for a while due to weak risk appetite amid euro-zone debt worries. "There doesn't seem to be any quick fix for the heightened debt risks of the euro-zone countries and European private banks. This is not a time to go short on the dollar," said a trader at a foreign bank in Seoul.

He pegged the dollar to trade in a KRW1,090-KRW1,120 range in the near term.

South Korean government bonds rose as investors sought safe-haven assets amid concerns over a possible Greek debt default.

Analysts said external economic uncertainties continue to weigh on bond yields, but their downside appears limited as the yields are already close to the benchmark interest rate of 3.25%.

"Until the U.S. Federal Open Market Committee meeting later this month provides fresh cues for the market, local treasurys will likely move sideways," said Kong Dong-rak, a fixed-income analyst at Taurus Investment & Securities.

He tipped the three-year yield to move between 3.30% and 3.45% in the near term.

Lead September bond futures ended 14 ticks higher at 104.78.

-By Jieun Shin, Dow Jones Newswires; 822-3700-1905; [email protected]

(http://online.wsj.com/article/BT-CO-20110914-703304.html)


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[arafiee]

Pasaean Matawang Won !!!!!!!!!!!!!!!!!

S. Korea closely watches currency market situations: finance ministry:-?
Posted: September 15, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Asian Currency Markets

SEOUL, Sept. 15 (Yonhap) — South Korea is closely watching currency market conditions as volatility increases amid growing concerns over fiscal woes in Europe, a senior finance ministry official said Thursday.

In any direction, excessive fluctuations in the currency exchange rates are not desirable,” Eun Sung-soo, head of the finance ministry’s international financial bureau, told reporters. “We are now closely watching the market situations.”

(http://thecurrencynewshound.com/2011/09/15/39299/)



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[arafiee]

Worst is over !!!!!

Korean Won Completes Worst Week in 15 Months on Europe Concern:-?
September 16, 2011, 5:32 AM EDT
MORE FROM BUSINESSWEEK

Asian Currencies Fall on Europe’s Debt Woes, Risk for Growth

By Jiyeun Lee
Sept. 16 (Bloomberg) -- South Korea’s won posted its biggest weekly loss in 15 months as concern about Europe’s debt crisis and a global slowdown sapped demand for emerging-market assets. The government’s three-year bonds declined.

Global economic risks are growing and financial markets are highly volatile, South Korea’s Finance Minister Bahk Jae Wan said at a meeting today.

The European Central Bank said yesterday it will coordinate with other international policy makers in lending dollars to euro-area banks to ensure they have enough cash.

U.S. retail sales stagnated in August and manufacturing in the New York region is contracting at the fastest pace since November, data showed in the last two days.

The won tumbled 3.1 percent this week to 1,112.10 per dollar at the 3 p.m. close in Seoul, according to data compiled by Bloomberg. The currency touched 1,119.75 yesterday, the weakest level since March. The won advanced 0.4 percent today.

“Reports from Europe prompted some risk-taking moves in the market today, supporting the won,” said Ryoo Hyun Jung, chief currency dealer in Seoul at Citibank Inc. “Uncertainties are still lingering though, making investors unsure of which position to take.”:-?

...

(http://www.businessweek.com/news/20...orst-week-in-15-months-on-europe-concern.html)



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[arafiee]

Pasaran Matawang !!!!!!!!!!!!!!!

S. Korea to closely monitor currency markets amid lingering external risks:-?
Posted: September 19, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Asian Currency Markets

SEOUL, Sept. 19 (Yonhap) — South Korea will closely monitor the currency market here as external risks such as the eurozone debt crisis can fuel volatility, a government report showed Monday.

According to the report submitted by the Ministry of Strategy and Finance for its annual parliamentary audit, the government will also keep its policy focus on stabilizing prices in the face of mounting inflationary pressure.

“We will thoroughly monitor such external risks as the eurozone debt crisis and global economic slowdown that could affect the movement of the currency exchange rates here,” the ministry said.

(http://thecurrencynewshound.com/201...rrency-markets-amid-lingering-external-risks/)



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[azhar86]

won pun kena simpan jg sikit...
kang melepas plk

 

[puyol]

Nilai won sama jer macam IQD.