Rupee Sees Best Asia Gain as Won Falls on North Korean Threat

India’s rupee posted the biggest gain in Asia this week as improving data in the U.S. spurred a rally in global stocks and inflows to emerging markets. South Korea’s won fell as tensions with North Korea intensified.

Indonesia and Philippine equity indexes reached records after U.S. services and jobless numbers drove the Dow Jones Industrial Average to an all-time high, boosting prospects for the region’s exports to the world’s biggest economy. Global funds poured a net $1.1 billion into shares in India, Indonesia, the Philippines and South Korea during the week. The won dropped after North Korea warned it may act against the U.S. and other “aggressors” to defend its “supreme interests.”