* Thai baht runs out of steam after three sessions of gains
* South Korean won weakens as export dispute with Japan
weighs
* Yuan inches up, PBOC fix seen firmer than expected
(Adds text, updates prices)
By Rashmi Ashok
Aug 28 (Reuters) - Most emerging Asian currencies inched
lower on Wednesday, with sentiment largely subdued as investors
continued to grapple with worries over the Sino-U.S. trade
dispute and the global economic outlook.
Any early hopes of headway in trade talks were doused after
China's foreign ministry reiterated on Tuesday that it had not
heard of any recent telephone call between the United States and
China on trade. "Markets continue to trade in a nervous fashion as investors
struggle to deal with the almost daily see-sawing of global
trade prospects," Nick Twidale, director and co-founder at
trading firm Xchainge, said in a note.
"The one certainty for traders at the moment seems to be
uncertainty."
Asian units came under added pressure as the dollar .DXY
against a basket of currencies recovered slightly to trade at
98.068 by 0531 GMT.
The Thai baht THB=TH slipped 0.3% and was the session's
worst performer, running out of steam after notching three
straight sessions of gains.
The Korean won KRW=KFTC fell as much as 0.2% as its
political and economic feud with neighbouring Japan deepened.
South Korea summoned Japan's ambassador to protest a
decision to remove Seoul's fast-track export status, which took
effect on Wednesday. Earlier this month, Japan dropped South Korea from a
so-called "white list" of favoured trade partners, which
prompted a tit-for-tate retaliation from South Korea.
Currencies of net oil importers came under pressure as crude
prices ticked higher. The Indian rupee INR=IN and Indonesian
rupiah IDR=ID slipped 0.2% and 0.1%, respectively.
Meanwhile, the Chinese yuan inched up against the dollar
after the central bank's official midpoint fix was
firmer-than-expected, widely seen as an official attempt to slow
the pace of depreciation. The central bank's firmer guidance lifted the yuan up for
the first time in 10 days. In onshore spot trade, the yuan
CNY=CFXS gained nearly 0.1%.
The following table shows rates for Asian currencies against
the dollar at 0528 GMT.
CURRENCIES VS U.S. DOLLAR
Currency Latest bid Previous day Pct Move
Japan yen 105.850 105.72 -0.12
Sing dlr 1.389 1.3891 +0.00
Taiwan dlr 31.400 31.415 +0.05
Korean won 1214.000 1211.2 -0.23
Baht 30.660 30.57 -0.29
Peso 52.260 52.24 -0.04
Rupiah 14260.000 14250 -0.07
Rupee 71.613 71.48 -0.19
Ringgit 4.209 4.202 -0.17
Yuan 7.158 7.1625 +0.06
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 105.850 109.56 +3.50
Sing dlr 1.389 1.3627 -1.90
Taiwan dlr 31.400 30.733 -2.12
Korean won 1214.000 1115.70 -8.10
Baht 30.660 32.55 +6.16
Peso 52.260 52.47 +0.40
Rupiah 14260.000 14375 +0.81
Rupee 71.613 69.77 -2.57
Ringgit 4.209 4.1300 -1.88
Yuan 7.158 6.8730 -3.98