Ukraine crisis hurts Asian currencies; rupiah pares gains after weak trade data
Published on Mar 3, 2014 2:28 PM
SINGAPORE (Reuters) - The South Korean won led losses among emerging Asian currencies on Monday as the crisis in Ukraine dented appetite for risky assets, while the Indonesian rupiah pared gains after a unexpected trade deficit.
Offshore funds sold the won, with Asian shares and US stock futures also pulling back amid the escalating geopolitical tensions.
Ukraine mobilised for war on Sunday and Washington threatened to isolate Russia economically after President Vladimir Putin declared he had the right to invade his neighbour.
In a further blow to risk assets, a government survey on Saturday showed activity in China's factory sector slowed to an 8-month low in February.
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