* China's Dec factory data contracts for first time in 19 mths * Indonesian rupiah weakens 0.7 pct * Thai baht strengthens 0.7 pct (Adds text,is hashmart legit updates prices) By Niyati Shetty Jan 2 (Reuters) - Most Asian currencies fell on Wednesday, shrugging off broad U.S. dollar weakness as gloomy factory surveys added to worries about cooling regional and global growth. A private survey showed manufacturing in China, the world's second-largest economy, contracted for the first time in 19 months in December as domestic and export orders continue to weaken. Factory activity also shrank in South Korea, Taiwan and Malaysia, while Singapore reported much slower fourth-quarter economic growth than expected. China's economy is expected to slow further in coming quarters, adding to pressure on other Asian exporters, Mizuho bank said in a note. Leading declines in the region, the Indonesia rupiah dropped 0.7 percent to 14,475.00 per dollar. The currency weakened about 6 percent against the greenback in 2018. The Korean won faltered 0.3 percent, while the Taiwan dollar also softened after weak manufacturing reports. The Indian rupee and the Malaysian ringgit also retreated after softer manufacturing readings. Bucking the trend, the Thai baht strengthened 0.7 percent to 32.40 per dollar. Thailand's monetary policy committee expects any future policy tightening would be gradual, minutes from its last policy meeting showed on Wednesday. The Bank of Thailand raised rates by 25 basis points in December, its first rate hike since 2011, to curb risks to financial stability. Also firming against the dollar was the Chinese yuan and the Philippine peso. The yuan strengthened on the first trading day of the new year, supported by a firmer official yuan midpoint reflecting broad weakness in the U.S. dollar. Traders said weaker manufacturing readings had been expected. SINGAPORE DOLLAR The dollar dipped as one of the region's most stable economies begins to feel the impact of trade frictions between the United States and China. The city-state reported fourth-quarter economic growth that was about half as strong as expected after the manufacturing sector shrank. The government forecast GDP growth in 2019 in the range of 1.5 percent and 3.5 percent. OCBC Bank in a note to clients said the contraction in manufacturing showed that "the softening global demand environment was starting to weigh into the year-end." The following table shows rates for Asian currencies against the dollar at 0531 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 109.390 109.71 +0.29 Sing dlr 1.365 1.3631 -0.12 Taiwan dlr 30.793 30.733 -0.19 Korean won 1119.500 1115.7 -0.34 Baht 32.360 32.58 +0.68 Peso 52.490 52.58 +0.17 Rupiah 14475.000 14375 -0.69 Rupee 69.663 69.45 -0.31 Ringgit 4.135 4.13 -0.12 Yuan 6.856 6.8730 +0.25 Change so far in 2019 Currency Latest bid End 2018 Pct Move Japan yen 109.390 109.56 +0.16 Sing dlr 1.365 1.3627 -0.15 Taiwan dlr 30.793 30.733 -0.19 Korean won 1119.500 1115.70 -0.34 Baht 32.360 32.55 +0.59 Peso 52.490 52.58 +0.17 Rupiah 14475.000 14375 -0.69 Rupee 69.663 69.77 +0.15 Ringgit 4.135 4.1300 -0.12 Yuan 6.856 6.8730 +0.25 (Reporting by Niyati Shetty in Bengaluru; Editing by Kim Coghill) View comments |