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18 Jun 2013
Flash: Markets in focus - BofA Merrill Lynch
FXstreet.com (London) - Alexandra Fletcher for BofA Merrill Lynch Global Research said that Asian stocks trade cautiously as better than expected US manufacturing and home builder sentiment data overnight strengthened investor expectations of a fine tuning of the Fed's stimulus program.
He went onto say that the Hang Seng was down by 0.65% while Philippine stocks were up by more than 3% on domestic factors. He noted that Asian currencies were mostly weaker against the US dollar with the Indonesian Rupiah depreciating up to 0.61%. Key economic data releasing later today includes US housing starts and building permits data. Focus in EEMEA will be on CBT rates decision in Turkey along with the April average gross wages in Hungary and May average gross wages in Poland.
He went onto say that the Hang Seng was down by 0.65% while Philippine stocks were up by more than 3% on domestic factors. He noted that Asian currencies were mostly weaker against the US dollar with the Indonesian Rupiah depreciating up to 0.61%. Key economic data releasing later today includes US housing starts and building permits data. Focus in EEMEA will be on CBT rates decision in Turkey along with the April average gross wages in Hungary and May average gross wages in Poland.