Central banks in Indonesia and India, with the worst-performing currencies among Asian emerging markets this year, will face more challenges in 2013 as they balance inflation risks with the need to boost growth.
Thailand’s prolonged political crisis is raising the risk that the nation will be the only one of Southeast Asia’s biggest economies to slide into a recession this year, undermining its allure as a manufacturing center.
From his Vietnamese Coast Guard boat at night, Lt. Colonel Phan Duy Cuong can see the yellow lights of an oil rig 10 nautical miles away. Owned by a Chinese company, it sits in waters near islands claimed by both nations in the South China Sea.
Philippine peso forwards snapped a three-day drop after the Dow Jones Industrial Average climbed to a record and China pledged to maintain its economic growth target, stoking investor appetite for emerging-market assets.