* Indonesian rupiah rises for third straight session
* Taiwan November trade data expected later in the day
* Investors await developments on trade talks
(Adds text, updates prices)
By Shreya Mariam Job
Dec 9 (Reuters) - Most Asian currencies remained range-bound
on Monday, as investors awaited trade talk developments ahead of
the scheduled implementation of new tariffs by the United States
on Chinese imports.
The United States is set to impose a new round of trade
tariffs on Chinese goods on Dec. 15, a plan which White House
economic adviser Larry Kudlow said on Friday was still in place.
With the deadline for new tariffs drawing near, investors
fear that if Beijing and Washington fail to agree upon a "phase
1" trade deal, the new tariffs could further escalate the
bruising, 17-month long trade war between the two countries.
The trade war continues to weigh on the Chinese economy with
China's exports shrinking for the fourth consecutive month in
November. On the other hand, strong U.S. jobs data allayed fears
that the prolonged trade tiff had stalled growth in world's
largest economy, supporting the greenback. While most Asian currencies remained restrained, the
Indonesian rupiah IDR= firmed the most in the region with a
0.1% gain, strengthening for a third consecutive session.
The rupiah stands to benefit from its "new attractiveness",
said Khoon Goh, head of Asia research at ANZ Banking Group.
Comments from Bank Indonesia senior deputy governor that
inflation will stay low will be reflected in fairly low interest
rates as well, he added.
The Taiwan dollar TWD=TP strengthened 0.1% ahead of its
November trade data.
Meanwhile, the Indian rupee INR=IN strengthened 0.1% on
the back of corporate inflows.
TAIWAN DOLLAR
Taiwan has seen a recovery in growth ever since
manufacturers relocated back to the island from China to avoid
higher tariffs in light of the trade war. The economy grew near
3% in the third quarter from a year earlier.
Last month, the central bank also raised its 2019 economic
growth forecast to 2.64% from 2.46%. Meanwhile, the uptick in global demand for electronics is
also expected to boost the island's exports in 2020.
Foreign buying in Taiwan's equity markets also lent support
to the currency, Goh said.
Taiwan's exports are likely to have rebounded in November
after two months of falls, according to a Reuters poll.
VS U.S. DOLLAR
Change on the day at 0550 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.560 108.59 +0.03
Sing dlr 1.360 1.3604 +0.03
Taiwan dlr 30.470 30.500 +0.10
Korean won 1189.700 1189.6 -0.01
Baht 30.340 30.32 -0.07
Peso 50.830 50.8 -0.06
Rupiah 14018.000 14035 +0.12
Rupee 71.118 71.19 +0.10
Ringgit 4.159 4.158 -0.02
Yuan 7.036 7.0350 -0.02
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.560 109.56 +0.92
Sing dlr 1.360 1.3627 +0.20
Taiwan dlr 30.470 30.733 +0.86
Korean won 1189.700 1115.70 -6.22
Baht 30.340 32.55 +7.28
Peso 50.830 52.47 +3.23
Rupiah 14018.000 14375 +2.55
Rupee 71.118 69.77 -1.89
Ringgit 4.159 4.1300 -0.70
Yuan 7.036 6.8730 -2.32