Salient to Investors:
Asian currencies strengthened for a fifth month on signs of a pickup in China, where industrial output, retail sales and fixed-asset investment gathered pace in September.
Tsutomu Soma at Rakuten Securities said funds are flowing into Asia.
EPFR Global said emerging-market bond funds attracted $44.2 billion this year through Oct. 24 versus $15.9 billion in all of 2011.
Economists expect China’s manufacturing expanded in October for the first time in three months.
Kim Dong Young at Industrial Bank of Korea said there’s not really anywhere money can flow into apart from Asian currencies, and China’s Purchasing Managers Index will show the country is headed for a soft landing.
Bruce Yam at Sun Hung Kai Financial said there have been strong bets that China’s economy is rebounding.
Read the full article at http://www.bloomberg.com/news/2012-10-31/asian-currencies-set-for-fifth-monthly-gain-on-recovery-optimism.html