Currencies and equities record further gains

Asian currencies have gained ground against the US dollar over the past month as investors have pushed back their expectations on the number of interest rate rises in the US this year. Most Asian equity markets have recorded strong gains in March. An improvement in sentiment globally and a string of strong data from across the region, most notably for exports, have been the key factors driving equities higher. The KOSPI was one of the best performing markets in the region last month, with the market rising sharply following the formal impeachment of ex-president, Park Geun-hye.