EMERGING MARKETS — Asian stocks, currencies pressured by oil prices, bond rout
MSCI EM Asia equities index slips 0.8% Jakarta's equity benchmark down as much as 1.4% India's Nifty 50 down as much as 1.2% Indonesian rupiah weakens to as much as 17,907 (Updates for afternoon trade) By Shruti Agarwal Sept 24 (Reuters) — Emerging Asian stocks and currencies retreated on Thursday, with Indonesian assets leading the decline, weighed down by oil-driven inflation risks and sharply higher US Treasury yields. MSCI's gauge of emerging Asia equities slipped 0.8%, with benchmarks in Indonesia and India leading the decline, with drops of as much as 1.4% and 1.2%, respectively. Oil prices climbed nearly 4% overnight after Iran's president vowed never to surrender in the face of US pressure, although they pared gains after Iran said it remained open to diplomacy. O/R "Asian equities pulled back as Brent climbed back above US$100 a barrel," said Hugh Lam, investment strategist at Betashares, contrasting the fate of energy import-dependent Asian economies with tech-oriented markets like Japan’s Nikkei, which held up. Stocks in Manila fell 1.1% to their lowest since November 2025, while those in Thailand were down 0.3%. Taiwan's chip-heavy benchmark slipped 0.3%, ending a six-s
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2% Indonesian rupiah weakens to as much as 17,907 (Updates for afternoon trade) By Shruti Agarwal Sept 24 (Reuters) — Emerging Asian stocks and currencies retreated on Thursday, with Indonesian assets leading the decline, weighed down by oil-driven inflation risks and sharply higher US Treasury yields. 2%, respectively. Oil prices climbed nearly 4% overnight after Iran's president vowed never to surrender in the face of US pressure, although they pared gains after Iran said it remained open to diplomacy.
O/R "Asian equities pulled back as Brent climbed back above US$100 a barrel," said Hugh Lam, investment strategist at Betashares, contrasting the fate of energy import-dependent Asian economies with tech-oriented markets like Japan’s Nikkei, which held up. 3%. 3%, ending a six-session winning streak. Semiconductor foundry giant TSMC retreated 1%, with analysts attributing the decline to profit taking after sharp gains.
South Korea's stock market was closed for the Chuseok holiday. 3%, also weighed down by oil prices. The Iran conflict has kept emerging market currencies under pressure as elevated oil prices fan inflation in energy-importing economies and strain their fiscal health. The dollar clung to a two-month high, adding to pressure on regional currencies, after strong manufacturing data spurred fresh bets on a Federal Reserve rate increase and as a weak auction sent US Treasury yields higher.
2% lower. 6% to 17,907 against the dollar, its lowest since early August. Bank Indonesia's head of monetary management attributed the move to capital outflows caused by rising US yields, worries about the Middle East conflict and domestic US dollar purchases by importers. 1 trillion rupiah higher than the initial amount proposed by President Prabowo Subianto in August.
8% as fuel subsidies have piled onto long-festering concerns about policymaking, fiscal spending, and central bank independence. Investors are also monitoring a summit between US President Donald Trump and Chinese President Xi Jinping in Washington. While few expect major breakthroughs, markets will be watching closely for any extension of the countries' 11-month trade truce. com)