{"id":57293,"date":"2025-12-21T22:38:31","date_gmt":"2025-12-22T02:38:31","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/"},"modified":"2025-12-21T22:38:31","modified_gmt":"2025-12-22T02:38:31","slug":"asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/","title":{"rendered":"Asia Markets Grapple with Currency Swings, Political Probes, and Soaring Equities"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#Key_Takeaways\" >Key Takeaways<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#South_Korea_Moves_for_Independent_Jeju_Air_Probe\" >South Korea Moves for Independent Jeju Air Probe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#Indonesian_Rupiah_Hits_Multi-Month_Low\" >Indonesian Rupiah Hits Multi-Month Low<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#Japans_Kihara_Signals_Forex_Vigilance_Amid_Yen_Weakness\" >Japan&#39;s Kihara Signals Forex Vigilance Amid Yen Weakness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#Malaysian_Court_Rules_on_Najib_Razaks_House_Arrest\" >Malaysian Court Rules on Najib Razak&#39;s House Arrest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asia-markets-grapple-with-currency-swings-political-probes-and-soaring-equities\/57293\/#Thai_Baht_Strengthens_Singapore_Stocks_Hit_Record_High\" >Thai Baht Strengthens, Singapore Stocks Hit Record High<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>South Korean lawmakers<\/strong> have passed a measure to initiate an <strong>independent probe<\/strong> into the <strong>2024 Jeju Air accident<\/strong>, responding to growing calls for an impartial investigation from victims&#39; families and the public.<\/li>\n<li>The <strong>Indonesian rupiah<\/strong> (<a href=\"\/stock\/IDR\">IDR<\/a>) has depreciated to <strong>16,755 per U.S. dollar<\/strong> (<a href=\"\/stock\/USD\">USD<\/a>), reaching its lowest point since mid-November, with some analyses indicating it&#39;s the weakest level since the <strong>1998 Asian financial crisis<\/strong> due to global trade tensions and domestic fiscal concerns.<\/li>\n<li><strong>Japan&#39;s top finance official, Minoru Kihara<\/strong>, signaled the government&#39;s readiness to address <em>extreme market fluctuations<\/em> and closely monitor the effects of rising interest rates, while confirming the <strong>Bank of Japan&#39;s (<a href=\"\/stock\/BOJ\">BOJ<\/a>)<\/strong> commitment to achieving a sustainable <strong>2% inflation target<\/strong>.<\/li>\n<li><strong>Malaysia&#39;s High Court<\/strong> has ruled that the <strong>King<\/strong> cannot unilaterally approve former Prime Minister <strong>Najib Razak&#39;s<\/strong> house arrest, necessitating input from the <strong>Pardons Board<\/strong> in a decision that underscores the complexities of the nation&#39;s anti-corruption efforts.<\/li>\n<li><strong>Singapore&#39;s Straits Times Index (<a href=\"\/stock\/STI\">STI<\/a>)<\/strong> surged to an <strong>all-time high of 4,613.82<\/strong>, recording an increase of up to <strong>1%<\/strong> in early trading, reflecting robust market confidence.<\/li>\n<\/ul>\n<p>Asian markets are experiencing a mix of significant currency movements, critical political developments, and strong equity performance as the year draws to a close. From independent probes into aviation accidents to central bank interventions and landmark court rulings, the region&#39;s financial landscape remains highly dynamic.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"South_Korea_Moves_for_Independent_Jeju_Air_Probe\"><\/span>South Korea Moves for Independent Jeju Air Probe<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>South Korean lawmakers<\/strong> have taken a decisive step, passing a measure to conduct an <strong>independent probe<\/strong> into the <strong>2024 Jeju Air accident<\/strong>. This action comes amidst persistent demands from victims&#39; families and public skepticism regarding the impartiality of the initial investigation conducted by the Aviation and Railway Accident Investigation Board (ARAIB). The accident, which occurred on <strong>December 29, 2024<\/strong>, at Muan International Airport, tragically claimed the lives of <strong>179 passengers and crew members<\/strong>. Families have criticized the ARAIB, which is affiliated with the transport ministry, for a perceived &quot;self-investigation&quot; and have called for its oversight to be transferred to the prime minister&#39;s office to ensure neutrality.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Indonesian_Rupiah_Hits_Multi-Month_Low\"><\/span>Indonesian Rupiah Hits Multi-Month Low<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The <strong>Indonesian rupiah<\/strong> (<a href=\"\/stock\/IDR\">IDR<\/a>) has continued its downward trend, falling to <strong>16,755 per U.S. dollar<\/strong> (<a href=\"\/stock\/USD\">USD<\/a>), marking its lowest level since mid-November. This depreciation reflects broader concerns, with some reports indicating the currency has reached its weakest point since the <strong>1998 Asian financial crisis<\/strong>. Analysts attribute the rupiah&#39;s slide to renewed global trade tensions, particularly concerning <strong>U.S. tariff policies<\/strong>, and domestic fiscal uncertainties. The <strong>Bank Indonesia (BI)<\/strong> has reportedly intervened in foreign exchange, domestic non-deliverable forwards, and bond markets to stabilize the currency and maintain market confidence.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Japans_Kihara_Signals_Forex_Vigilance_Amid_Yen_Weakness\"><\/span>Japan&#39;s Kihara Signals Forex Vigilance Amid Yen Weakness<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Japan&#39;s top finance official, Minoru Kihara<\/strong>, has reiterated the government&#39;s close monitoring of currency markets and the effects of rising interest rates. Kihara highlighted <em>unusually fast and one-sided trends<\/em> in recent trading and stressed that currency movements should be <em>steady and aligned with underlying fundamentals<\/em>. He signaled readiness to respond to <em>extreme market fluctuations<\/em>, a clear warning against excessive <strong>yen<\/strong> weakness. Despite the <strong>yen&#39;s<\/strong> recent depreciation, Kihara affirmed that the <strong>Bank of Japan&#39;s (<a href=\"\/stock\/BOJ\">BOJ<\/a>)<\/strong> policy decisions are aimed at achieving a sustainable <strong>2% inflation target<\/strong>. The <strong>USD\/JPY<\/strong> pair was down <strong>0.29%<\/strong> at <strong>157.30<\/strong> in early trading.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Malaysian_Court_Rules_on_Najib_Razaks_House_Arrest\"><\/span>Malaysian Court Rules on Najib Razak&#39;s House Arrest<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In a significant legal development, <strong>Malaysia&#39;s High Court<\/strong> has ruled that the <strong>King<\/strong> cannot independently approve former Prime Minister <strong>Najib Razak&#39;s<\/strong> house arrest without the input of the <strong>Pardons Board<\/strong>. Najib, currently serving a <strong>six-year jail sentence<\/strong> for corruption related to the <strong>1MDB scandal<\/strong>, had his original <strong>12-year term halved<\/strong> by a pardons board last year. He had sought to compel the government to confirm and enforce an &quot;addendum order&quot; for house arrest, which government officials initially denied knowledge of but later confirmed its royal issuance. This ruling is a crucial test for the current premier Anwar Ibrahim&#39;s anti-corruption agenda.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thai_Baht_Strengthens_Singapore_Stocks_Hit_Record_High\"><\/span>Thai Baht Strengthens, Singapore Stocks Hit Record High<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The <strong>Thai currency<\/strong> has demonstrated considerable strength, reaching <strong>31.310 per U.S. dollar<\/strong>, marking its strongest level since mid-2021. This appreciation has been attributed to factors such as a weakening <strong>U.S. dollar<\/strong>, rising global <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold prices<\/a>, and foreign capital inflows.<\/p>\n<p>Meanwhile, <strong>Singapore&#39;s main stock index<\/strong>, the <strong>Straits Times Index (<a href=\"\/stock\/STI\">STI<\/a>)<\/strong>, achieved an <strong>all-time high of 4,613.82<\/strong>, rising by up to <strong>1%<\/strong> in early trading. This robust performance underscores strong investor confidence and positive market sentiment in the city-state.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korean lawmakers have passed a measure to initiate an independent probe into the 2024 Jeju Air accident, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[5378,3591,5413,4945,5530,5596,5127,7410,5128,10335,5136,10745,5151,15919,5198,15920,5333,15921,5377,15922],"class_list":["post-57293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-yen","tag-forex","tag-malaysia","tag-monetary-policy","tag-market-trends","tag-indonesia","tag-japan","tag-rupiah","tag-singapore","tag-bi","tag-south-korea","tag-baht","tag-thailand","tag-jeju-air","tag-aviation","tag-najib-razak","tag-politics","tag-straits-times-index","tag-bank-of-japan","tag-araib"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/57293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=57293"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/57293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=57293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=57293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=57293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}