* Outflows, importers hurt ringgit; Malaysia c.bank to keep
* Rupiah near 2-week low on equity outflows; Indonesia bonds
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, Nov 23 (Reuters) - Most emerging Asian currencies
eased on Wednesday as the dollar hovered around a 13-1/2-year
peak and as expectations grew that the Federal Reserve may raise
interest rates further next year after an expected hike in
The Malaysian ringgit hit a near 14-month low as
short-term foreign investors kept selling local financial
With the currency's recent sharp weakening, the country's
central bank is expected to leave its benchmark interest rate
unchanged in a policy decision later in the day.
Indonesia's rupiah fell to around a two-week trough
as foreign investors continued to cut equity holdings, while
most government bond prices slid.
The U.S. dollar traded at 101.01 against a basket of
six major currencies, not far from Friday's peak of 101.48, the
strongest since April 2003.
U.S. home resales rose in October to their highest level in
near a decade, data showed on Tuesday, indicating a pickup in
the world's top economy.
Emerging Asian currencies and bonds have been under pressure
from the greenback's strength amid expectations that U.S.
President-elect Donald Trump's policies to boost fiscal spending
will lift inflation and interest rates. U.S. Treasury yields
were already rising despite the recent pullback.
His protectionist stance on trade has also been hurting the
currencies of Asia's export-reliant economies.
"Regional outflows should persist given the uncertainties
around U.S. interest rate trajectory and President-elect Trump's
trade policies," said Stephen Innes, senior FX trader for FX
broker OANDA in Singapore.
"The fear of massive redemptions may accelerate the feedback
loop if local EM conditions continue to deteriorate, which will
put additional pressure on regional bond and equity markets."
The ringgit lost 0.6 percent to 4.4430 per dollar, its
weakest since Oct. 2, 2015.
The Malaysian currency came under further pressure from
dollar demand from importers for payments.
Currency traders were little fazed by data on Tuesday
showing the country's international reserves rose in the first
two weeks of November, even though reserves are expected to fall
on surging capital outflows.
A senior Malaysian bank trader in Kuala Lumpur said the
dollar's strength will keep hurting sentiment on the ringgit.
"Stay with the USD. Trump will make the USD firm," said the
The rupiah slid 0.3 percent to 13,474 per dollar, its
weakest since Nov. 11.
Foreign investors were net sellers in Indonesia's stock
market over the previous 10 straight sessions, unloading
a combined net 6.8 trillion rupiah ($504.7 million) worth of
equities during the period.
Prices of most Indonesian government bonds, especially
long-term debts, fell with the 10-year yield at
7.955 percent, its highest since March 4.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0340 GMT
Currency Latest bid Previous day Pct Move
Japan yen 111.06 111.14 +0.07
Sing dlr 1.4267 1.4235 -0.22
Taiwan dlr 31.885 31.945 +0.19
Korean won 1174.81 1176.10 +0.11
Baht 35.50 35.43 -0.20
Peso 49.940 49.850 -0.18
Rupiah 13470 13440 -0.22
Rupee 68.42 68.25 -0.24
Ringgit 4.4390 4.4170 -0.50
Yuan 6.8928 6.8920 -0.01
Change so far in 2016
Currency Latest bid End prev year Pct Move
Japan yen 111.06 120.30 +8.32
Sing dlr 1.4267 1.4177 -0.63
Taiwan dlr 31.885 33.066 +3.70
Korean won 1174.81 1172.50 -0.20
Baht 35.50 36.00 +1.40
Peso 49.94 47.06 -5.77
Rupiah 13470 13785 +2.34
Rupee 68.42 66.15 -3.31
Ringgit 4.4390 4.2935 -3.28
Yuan 6.8928 6.4936 -5.79
(Reporting by Jongwoo Cheon; Editing by Kim Coghill)