FW: [Maybank] Sentiment Stabilizes

 

 

Sentiment Stabilizes Global Markets Daily by Saktiandi Supaat FX Research Asian equities extended their rebound this morning, as fears of trade war unwound on WSJ report that US and China quietly started negotiations to improve US access to Chinese markets (which we highlighted in our GM Daily yesterday). Long JPYKRW (proxy FX play for trade war) eased off recent highs while the sharp decline in USDCNH from 6.31 to intra-day low of 6.2402 further reinforced the decline in most USD/AXJs. In particular KRW and MYR were the main beneficiaries. We reiterate our bias ... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.