Asian stocks fell on Monday after Wall Street suffered its worst three-day slide in 10 months, but losses were muted, and high-yielding currencies edged up as some investor appetite for riskier assets surfaced.
The exchange-traded currency
futures will now be expanded to the euro, pound and yen
pairing with the rupee, giving the investors more flexibility
to hedge their risks against volatility in exchange rates.
Japan`s new finance minister, Naoto Kan, said that currency levels should be determined by markets, backtracking from his earlier call for a weaker yen after an apparent rebuke from the prime minister.
Asian shares gave up early gains on Friday, with interest rate speculation pressuring assets in South Korea and China, while a bounce in the British pound continued to depress the yen and oil hit a one-year high above USD78.
Most Asian stock markets edged higher on Friday, keeping a wary eye on volatile Chinese shares, while currency traders went on the defensive after a wild see-saw week and mixed US economic data, bidding up the safe-haven yen.