BENGALURU (Jan 21): South Korean and Taiwanese shares jumped on Thursday as upbeat export data from both countries lifted investor sentiment, while the Indonesian rupiah inched higher ahead of a central bank meeting where rates are expected to be kept on hold.
Data showed South Korea s exports expanded at a much faster pace in the first 20 days of January, and Taiwan s export orders hit a record high in 2020 boosted by strong demand for technology products.
Shares in Seoul climbed 0.7% and were headed for a third consecutive day of gains, while the Taiwanese market surged nearly 2% and its currency once again stood out with a gain of more than 1%.
National Grid Corp. of the Philippines is planning an initial public offering that could raise as much as $1 billion, according to people with knowledge of the matter.
The high-voltage electricity network operator, commonly known as NGCP, has invited several banks to submit proposals for the share sale in Manila, said the people, who asked not to be identified as the information is private.
At $1 billion, NGCP’s IPO would be the biggest ever in the Philippines, according to data compiled by Bloomberg. The deal would eclipse Robinsons Retail Holdings Inc.’s first-time share sale which raised $621.1 million in 2013, the largest in the Southeast Asian nation to date, the data show.
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