Economics
Asia Currencies Gain This Week on Optimism Growth to Spur Flows
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Asian currencies advanced this week, led by South Korea’s won and the Philippine peso, on optimism faster growth in emerging markets will spur global investors to add to holdings of regional assets.
Overseas investors pumped a combined $1.4 billion into equities in Indonesia, the Philippines and Taiwan this week, according to exchange data. Asia’s developing economies will expand 8.4 percent this year and next, more than triple the 2.5 percent annual growth of industrialized nations, the International Monetary Fund estimated on Jan. 25.