Asian currencies pare losses after China GDP beats forecast

SINGAPORE (Reuters) - Most emerging Asian currencies pared losses on Wednesday after data showed China's economic growth in the first quarter was better than expected.

The Singapore dollar stood at 1.2529 to the US dollar as of 10.08am Singapore time, compared with Tuesday's close of 1.2525.

The city-state's unit had earlier weakened as far as 1.2541.

The South Korean won and the Malaysian ringgit also pared initial losses.

China's annual economic growth slowed between January and March 2014 to 7.4 per cent from 7.7 per cent in the previous three months, but beat market expectations for growth of 7.3 per cent.