Emerging Asian currencies started the week on the back foot, with the Indonesian rupiah and Philippine peso leading losses on Monday, as holiday-thinned trading and caution ahead of rate decisions around the region sidelined most investors.
Regional stocks moved in tight ranges as the closure of China’s markets, a major driver of activity, tempered risk appetite and reduced momentum. Indonesia’s benchmark index opened at a record high but pared gains to trade flat, while Thailand's benchmark dropped 0.4%.
