Asian Currencies Have Fourth Weekly Gain on Recovery Outlook

Asian currencies had a fourth weekly gain, led by South Korea’s won, after data suggested the worst may be over for the global economy.

Chinese manufacturing expanded for the first time in three months as output and new orders climbed, a report showed Nov. 1. Taiwan released figures this week that showed its economy returned to growth in the third quarter, while U.S. factory production increased at a faster pace than forecast in October and consumer confidence reached a four-year high.