* Oil prices weigh on net oil importers
* Investors cheer Philippine c.bank growth measures
* Washington may move to curb Chinese investment
(Adds text, updates prices)
By Shreya Mariam Job
Sept 30 (Reuters) - The Philippine peso strengthened the
most among its Asian peers on Monday, while most other units
traded in a thin range as investors held positions amid reports
that Washington may restrict U.S. investments in Chinese firms.
The Philippine peso PHP= strengthened 0.2% as investors
cheered central bank measures on Friday to boost its slowing
economy.
Elsewhere, reports that Washington is considering delisting
Chinese companies from U.S. stock exchanges dampened sentiment.
The news stoked fears of an escalation of U.S.-China trade
tensions ahead of talks expected to be held late next week after
months of tit-for-tat moves by both sides.
"Reports that the White House may be planning steps to
restrict U.S. investments in Chinese firms have once again
caught markets off guard, igniting caution," Vishnu Varathan,
senior economist at Mizuho Bank said in a note.
Firming oil prices also weighed on the currencies of net oil
importers, with the Indian rupee INR=IN and the Indonesian
rupiah IDR=ID weakening 0.2% and 0.1%, respectively.
Factory activity surveys in China pointed to slight
improvement in September as domestic demand picked up, although
export demand remained weak. The yuan CNY=CFXS was steady ahead of a week-long holiday.
Chinese financial markets will be closed for the National Day
holiday from Tuesday.
The South Korean won KRW=KFTC firmed marginally with gains
capped by weak August factory data. The country's industrial
output dropped 2.9% from the previous year, compared with a 0.2%
decline predicted by a Reuters poll, while its service sector
output rose 1.2% from the previous month.
Financial markets in Taiwan were closed for a holiday.
PHILIPPINE PESO
The peso firmed for a fourth consecutive session as policies
to boost the economy helped investor sentiment.
The country's central bank announced a 100 basis points cut
in banks' reserve requirement ratio on Friday which will take
effect in November.
"The move was carefully telegraphed by the Governor and was
warranted given the central bank's latest inflation forecast
showing price gains to average 2.5% for 2019," an ING note said.
The Bangko Sentral ng Pilipinas cut its benchmark interest
rate for a third time this year last week and lowered its
inflation forecast for 2019 to 2.5% from 2.6%. While the move would increase domestic liquidity, economic
growth hopes supported the currency. The peso has firmed 0.7%
this month.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0554 GMT
Currency Latest bid Previous day Pct Move
Japan yen 107.750 107.92 +0.16
Sing dlr 1.381 1.3811 -0.02
Korean won 1198.300 1199.9 +0.13
Baht 30.580 30.6 +0.07
Peso 51.770 51.88 +0.21
Rupiah 14175.000 14160 -0.11
Rupee 70.650 70.56 -0.13
Ringgit 4.185 4.186 +0.02
Yuan 7.125 7.1225 -0.03
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 107.750 109.56 +1.68
Sing dlr 1.381 1.3627 -1.35
Taiwan dlr 31.042 30.733 -1.00
Korean won 1198.300 1115.70 -6.89
Baht 30.580 32.55 +6.44
Peso 51.770 52.47 +1.35
Rupiah 14175.000 14375 +1.41
Rupee 70.650 69.77 -1.25
Ringgit 4.185 4.1300 -1.31
Yuan 7.125 6.8730 -3.53