* Questions over N.Korean leader's health weighs on won
* U.S. crude oil futures fall below zero on Monday
* Chinese yuan eases to near 3-week low
* S. Korea exports for first 20-days in April plunge
(Adds text, updates prices)
By Anushka Trivedi
April 21 (Reuters) - Asian currencies eased on Tuesday, with
investors on edge after a historic oil price crash while the
South Korean won slumped on concerns over the health of North
Korean leader Kim Jong Un.
Kim was reported to be in "grave danger" after undergoing a
cardiovascular procedure in hospital by several media outlets
even though South Korean and Chinese reports cast doubt on the
reports which stoked concerns over his succession. Leading losses in the region, the won KRW=KFTC dropped
more than 1% - its biggest intraday fall in four weeks - on the
news, and after data showed a collapse in 20-day April exports
for the world-trade bellwether South Korea. "The mounting geopolitical uncertainties in the Korean
Peninsula post downside risk to the Chinese yuan as the
knee-jerk reaction would be capital flight to the dollar as a
safe-haven, and a reduction in emerging Asian currency
exposure," Ken Cheung, an Asian FX strategist at Mizuho said.
The Chinese yuan CNY=CFXS slipped 0.2% to a near
three-week low against a buoyant greenback, while other Asian
currencies also fell steeply, with the Indonesian rupiah IDR=
shedding 0.8%.
Meanwhile, already fragile sentiment due to
coronavirus-related worries worsened after U.S. crude oil
futures plunged below $0 for the first time ever overnight,
dragged by a supply glut and sagging demand. Crude turned
positive on Tuesday . O/R
Even as coronavirus infections show tentative signs of
peaking in some places, countries are struggling to decide how
to reopen their economies for business and spur growth.
"While most Asian economies, especially India should benefit
from lower oil prices from a current account perspective, market
focus seems to be on the implications on global growth for now,
which caps risk appetite," said Frances Cheung, Asia's head of
macro strategy at Westpac.
The Malaysian ringgit MYR=MY , highly sensitive to crude
prices due to the country being a sizable oil exporter, weakened
0.4%.
The Singapore dollar SGD= , the Indian rupee INR=IN and
the Thai baht THB=TH were 0.2% to 0.4% lower against the
dollar.
The Taiwan dollar TWD=TP was the only outlier, trading
largely flat throughout the session.
The trade-reliant island late on Monday reported that export
orders in March unexpectedly grew at their fastest pace in
17-months, helped by a boom in telecommuting amid the virus
outbreak and as factories resumed operations in China, the
island's largest trading partner. The following table shows rates for Asian currencies against
the dollar at 0525 GMT.
CURRENCIES VS U.S. DOLLAR
Currency Latest bid Previous day Pct Move
Japan yen 107.470 107.61 +0.13
Sing dlr 1.426 1.4209 -0.34
Taiwan dlr 30.075 30.072 -0.01
Korean won 1234.300 1220.5 -1.12
Baht 32.510 32.46 -0.15
Peso 50.785 50.73 -0.11
Rupiah 15500.000 15375 -0.81
Rupee 76.793 76.54 -0.34
Ringgit 4.388 4.372 -0.35
Yuan 7.085 7.0736 -0.17
Change so far in 2020
Currency Latest bid End 2019 Pct Move
Japan yen 107.470 108.61 +1.06
Sing dlr 1.426 1.3444 -5.70
Taiwan dlr 30.075 30.106 +0.10
Korean won 1234.300 1156.40 -6.31
Baht 32.510 29.91 -8.00
Peso 50.785 50.65 -0.27
Rupiah 15500.000 13880 -10.45
Rupee 76.793 71.38 -7.05
Ringgit 4.388 4.0890 -6.80
Yuan 7.085 6.9632 -1.72