Asia Emerging Currencies Drop With Copper as China Stocks Fall

Emerging-market currencies weakened and copper fell for a second day as tensions between China and Japan escalated, New York manufacturing slumped and Spain’s borrowing costs increased. Asian bond risk rose.

South Korea’s won retreated from a six-month high and the Malaysian ringgit dropped the most in three weeks. The MSCI Asia Pacific Index (MXAP) of shares rose 0.1 percent as of 12:03 p.m. in Tokyo, while futures on the Standard & Poor’s 500 Index were little changed. The Shanghai Composite Index lost 0.8 percent. Copper dropped 0.1 percent and gold fell 0.3 percent. Oil rose 0.3 percent in New York after sinking 2.4 percent yesterday.

Via – Bloomberg


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