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04 Mar '13, 8am

Offshore funds send won, Singapore dollar below support; broad slides seen: SINGAPORE, March 4 — The South Kor...

Offshore funds send won, Singapore dollar below support; broad slides seen: SINGAPORE, March 4 — The South Kor...

Offshore funds send won, Singapore dollar below support; broad slides seen March 04, 2013 An employee of a money changer counts US dollar notes for a customer, as Indonesian rupiah is seen in the background, in Makassar January 31, 2013. — Reuters pic SINGAPORE, March 4 — The South Korean won and the Singapore dollar weakened past key chart support lines today, leading slides among emerging Asian currencies as investors dumped riskier assets on worries China could impose new curbs to cool property prices. The Singapore dollar breached a 200-day moving average and a 55-week moving average on hedge funds offers and stop-loss selling. Offshore funds sent the won below a 120-day moving average despite demand from South Korean exporters. The Malaysian ringgit slid on dollar-short covering, while the Indonesian rupiah fell due to profit-taking and importers’ dollar demand. Emerg...

Full article: http://www.themalaysianinsider.com/business/article/offsh...

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