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By Harsita Swaminathan

December 21 (Reuters)The Indonesian rupiah was little changed on Wednesday, even as the country announced a ban on bauxite exports, while other Asian currencies weakened broadly and stocks remained mixed in holiday trading.

The rupee IDR=: last seen around 15.595 to the dollar, while the Thai baht THB=TH against the dollar decreased by 0.4% and amounted to 34,795 dollars. Singapore dollar SGD=: also decreased by 0.2%.

President of Indonesia announced a ban on the export of bauxite, an aluminum ore, as it sought to promote domestic processing. It is the main supplier of ore and China is the main buyer. Previously, the country briefly banned the export of coal, palm oil and nickel ore.

Also on investors’ radar is the meeting of the central bank of Indonesia, a In a Reuters poll predicting a 25 basis point (bps) rate hike on Thursday. The bank, which has raised interest rates by 50 bps in the last three meetings, expects that in 2023 moderate about 3%.

Other currencies in the region were lower on lower holiday volumes and a light data calendar for the day.

“In light of the ‘holiday trade’, the proximate direction of the forex may receive greater cues from JPY movements, technical and risk sentiment, while less market liquidity may exacerbate some of these moves,” OCBC analysts said.

Japanese yen JPY=: eased 0.4% after a 4.6% advance on Tuesday, thanks to its central bank. expansion group around its 10-year yield.

The ringgit in Malaysia MYR=: weakened by 0.2%, and stocks .KLSE: fell 0.3%, even after Malaysia’s prime minister said late Tuesday that the country’s economic growth would pick up this year; likely to exceed forecasts 6.5% to 7%.

Asian stocks, which rose earlier in the day, traded mixed. China’s blue-chip CSI 300 Index .CSI300 was flat while the Shanghai Composite Index .SSEC: decreased by 0.2%.

Philippines .PSI: and Indonesian .JKSE: stock indexes rose 0.7% and 0.4%, respectively, while South Korean stocks .KS11: and India .NSEI: decreased by 0.2% and 0.4%, respectively.

Wall Street snapped a four-session losing streak overnight, allowing losses in Asian stocks. Markets are now awaiting consumer confidence data from the United States, which will be released later this evening. .N:

“More focus may be on the core US personal consumption expenditure price index tomorrow… The data will be seen to reflect a moderate pace of price pressures,” said Yeap Jun Rong, market analyst at IG.

DIRECTIONS:

** India imposes Anti-dumping duty on imports of stainless steel tubes and pipes from China

** China reports no new COVID-19 deaths for Tuesday, compared to five deaths the previous day

Asian stock indices and currencies at 0702 GMT

COUNTRY:

FX RIC:

FX DAILY %

FX YTD %

INDEX:

REQUIREMENTS DAILY %

POSITIONS YTD %

Japan

JPY=:

-0.35

-12.92:

.N225

-0.68

-8.35

China

CNY=CFXS

-0.19

-8.88

.SSEC:

-0.23

-15.75

India

INR=IN

-0.02

-10:19

.NSEI:

-0.43

5:48 a.m

Indonesia

IDR=:

+0.03

-8.62

.JKSE:

0.35

3:20

Malaysia

MYR=:

-0.18

-6.17:

.KLSE:

-0.26

-6.63

Philippines

PHP=:

+0.04

-7.66

.PSI:

0.68

-8.72

S. Korea

KRW=KFTC

+0.30

-7.54

.KS11:

-0.19

-21.79

Singapore

SGD=:

-0.24

-0.30

.STI:

-0.06

4:11 a.m

Taiwan

TWD=TP

+0.02

-9.84

.TWII:

0.45

-21.87

Thailand

THB=TH

-0.36

-4.04:

.SETI:

0.17:

-3.04:

Graphical. Global exchange rates https://tmsnrt.rs/2RBWI5E

Asian stock marketshttps://tmsnrt.rs/2zpUAr4

(Reporting by Harsita Swaminathan Editing by Uttaresh.V)

(([email protected]))

The views and opinions expressed herein are those of the author and may not reflect the views of Nasdaq, Inc.

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