Asian stocks edge higher as investors eye Trump-Xi summit; rupiah slides

South Korea, Taiwan lead regional gains on chip optimism Investors watch Trump-Xi meeting for trade signals Indonesian rupiah hits one-month low, BI decision in focus (Updates for afternoon trade) By Rajasik Mukherjee Sept 21 (Reuters) — Asian stocks rose slightly on Monday as investors awaited a meeting between US President Donald Trump and Chinese President Xi Jinping later this week, while Indonesia's rupiah fell to a one-month low ahead of a central bank decision on Wednesday.

Attention is firmly on the Trump-Xi summit in Washington on September 24, with markets looking for indications of easing tensions between the world's two largest economies after months of trade and geopolitical frictions. "Investors are cautiously hoping for the current trade truce to be maintained," said Lukman Leong, an analyst at brokerage Doo Financial Futures. 9% to its highest since September 10. Gains in the index were also supported by data showing exports for the first 20 days of September surged to a record high, driven by robust semiconductor demand.

Taiwanese equities climbed more than 1%, touching their highest in nearly three months and logging their fourth straight session of gains. Improving risk appetite for AI and semiconductor stocks lifted North Asian markets, with investors extending bets on chipmakers after gains among their US peers and signs of resilient technology demand. 6%. It has recovered more than 2% from the record low hit in June, but remains among the region's weakest currencies this year.

Markets are looking for clues on Bank Indonesia's interest rate outlook as policymakers balance currency stability with efforts to support economic growth. Perry Warjiyo's unexpected resignation as BI chief in July spooked investors. However, the appointment of senior deputy governor Destry Damayanti as the central bank's first female chief has helped reassure markets and supported a modest recovery in the rupiah. "Rupiah is the outlier, remaining under pressure as traders expect BI to keep its policy rate unchanged this week," said Leong.

" The dollar index, which tracks the US currency against six major peers, was steady after gaining more than 1% last week following the Fed's rate hike, as the central bank signalled more increases could be coming. Elsewhere, Vietnamese stocks were added to FTSE Russell's emerging market indexes on Monday, marking a milestone for the country's stock market after years of reforms aimed at attracting foreign investors. 8%. com)