BENGALURU: Asian currencies broadly fell on Wednesday, with Thailand's baht leading losses, as short-term U.S. Treasury yields jumped amid expectations that rising inflation will lead to earlier-than-expected interest rate hikes in the world's largest economy. Emerging Asian stocks slipped on fresh China jitters. Modern Land became the latest Chinese property developer to default on a bond payment, hurting Chinese property stocks and rekindling worries that China Evergrande Group's debt problems could pose a contagion risk. Stocks in Indonesia, Thailand and South Korea all slipped between 0.3% and 0.8%, tracking Chinese stocks, which fell 1.2%. The U.S. dollar edged up on Tuesday in narrow-range trading before slipping in early Asia trading hours.

Source: The Star October 27, 2021 20:41 UTC