* Singapore dollar loses most as fresh tariffs weigh
* Positive Caixin PMI data offers some relief to yuan
* Thai baht ticks down, Aug CPI below cenbank target
By Rashmi Ashok
Sept 2 (Reuters) - Most emerging Asian currencies were
subdued on Monday, after the United States and China imposed new
tariffs on each other's goods, casting doubt over whether the
world's two largest economies would find a way out of their
trade war anytime soon.
On Sunday, the United States began imposing 15% tariffs on a
variety of Chinese goods - including footwear, smart watches and
flat-panel televisions - as China began imposing new duties on
U.S. crude oil, in the latest escalation in a bruising trade
war. Also weighing on sentiment, an official reading of the
Purchasing Managers' Index (PMI) on Saturday showed Chinese
factory activity shrank in August for a fourth straight month.
However, a private business survey on Monday showed a
surprise rise in China's August factory activity, offering a
breath of relief in an otherwise shaky market. Finding support from the data, the Chinese yuan CNY=CFXS
traded marginally lower at 7.160 against the dollar by 0534 GMT,
while Chinese share markets showed gains.
The yuan had posted its worst monthly decline in 25 years in
August, as its currency depreciated amid rising trade tensions.
"The overall perspective does not look good on the global
growth front," Nick Twidale, director & co-founder at brokerage
Xchainge said in a note.
"If data continues to move south then expect to see more
significant corrections in the equity space, more volatility and
more dovish central bankers," he added.
The Thai baht THB=TH fell 0.1%. Data showed the country's
annual headline consumer price index (CPI) rose 0.52% in August
from a year earlier, below a Reuters poll forecast. It was also below the central bank's 1%-4% target range for
a third straight month.
The Singapore dollar SGD= shed most, down nearly 0.2%
while Indonesian rupiah IDR=ID also traded marginally lower.
However, the Taiwan dollar TWD=TP bucked the trend to gain
0.2%.
Holidays in India and Malysia kept the Indian rupee INR=IN
and the Malaysian ringgit MYR= quiet.
The following table shows rates for Asian currencies against the
dollar at 0534 GMT.
CURRENCIES VS U.S. DOLLAR
Currency Latest bid Previous day Pct Move
Japan yen 106.200 106.29 +0.08
Sing dlr 1.389 1.3870 -0.15
Taiwan dlr 31.351 31.410 +0.19
Korean won 1210.300 1211.2 +0.07
Baht 30.600 30.58 -0.07
Peso 52.100 52.12 +0.04
Rupiah 14190.000 14180 -0.07
Yuan 7.160 7.1580 -0.03
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 106.200 109.56 +3.16
Sing dlr 1.389 1.3627 -1.90
Taiwan dlr 31.351 30.733 -1.97
Korean won 1210.300 1115.70 -7.82
Baht 30.600 32.55 +6.37
Peso 52.100 52.47 +0.71
Rupiah 14190.000 14375 +1.30
Rupee 71.400 69.77 -2.28
Ringgit 4.203 4.1300 -1.74
Yuan 7.160 6.8730 -4.01