Pimco favours rupiah, ringgit

The money manager favours Indonesia’s rupiah and Malaysia’s ringgit, and is considering adding positions in China’s yuan, said Roland Mieth, emerging-markets portfolio manager at the company in Singapore.

SINGAPORE: Asian emerging-market currencies are cheap and an imminent U.S.-China trade deal means this is a good time to buy them, according to Pacific Investment Management Co.

The money manager favours Indonesia’s rupiah and Malaysia’s ringgit, and is considering adding positions in China’s yuan, said Roland Mieth, emerging-markets portfolio manager at the company in Singapore.

Pimco has also reduced short positions on the trade-reliant currencies of South Korea, Taiwan and Singapore, he said.