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Daily Scan: A-shares retrace gains; H-shares take a beating

By NexChange
Capital Markets

Updated throughout the day

September 22

Good evening everyone. After getting bruised and battered post Fed, Asian equities were mostly in recovery mode today with the Shanghai Composite climbing 0.92%, the ASX spiking 0.74%, and the Hang Seng Index bouncing 0.18%. Here’s how the rest are doing:

SZCOMP: +0.71%
Hang Seng Index: +0.18%
Hang Seng China Enterprises Index: -0.65%
TAIEX: +0.71%
Straits Times Index: -0.48%

Things were a lot more interesting over in the currency markets as the U.S. dollar bounced against most of its emerging market currency pairs but seemingly lost ground against some of the commodity currencies. Among the hardest hit were the Brazilian real which lost over 1%, the Taiwan dollar which lost 0.8%, and the Korean won which lost 0.38%. Here's what else you need to know:

South Korea to probe VW, Audi diesel car emissions. The scandal engulfing Volkswagen AG,  which has admitted cheating diesel vehicle emissions tests in the US, has spread east. South Korea said it would investigate three of the maker's diesel models. Reuters
Gunmen kidnap tourists and local woman in Philippines. Two Canadians, a Norwegian and a local woman have been kidnapped from a tourist resort in the south. An army spokesman said they were taken by gunmen late on Monday from the Holiday Oceanview resort on Samal Island. BBC
Russia to deploy 2,000 in Syria air base mission’s ‘first phase’. The military staff will be sent to a new air base near the Syrian port city of Latakia, signalling the scale of Moscow’s involvement in the war-torn country. The deployment “forms the first phase of the mission there”, according to an adviser on Syria policy in Moscow. Financial Times (paywall)
Dollar gains on rate hike hopes. The dollar advanced against the euro and other leading currencies on Monday on comments from US central bankers who continue to eye a 2015 interest rate increase. There are two remaining Fed policy meetings scheduled this year, in late October and mid-December. Channel News Asia
China protests by Fanya Metal Exchange investors. Hundreds of Chinese mineral investors have protested in Beijing, alleging they have been defrauded. They claim to have lost money after investing in the Fanya Metal Exchange in the city of Kunming. Hundreds of thousands of people have invested billions in products offered by the exchange as the values of rare metals rose in recent years. BBC
Malaysia PM in US corruption probe. A federal grand jury is looking in allegations of corruption involving the Malaysian prime minister, Najib Razak, and people close to him. The embattled politician is already facing mounting political turmoil and a parade of inquiries at home and abroad into a sovereign wealth fund that he oversees. New York Times

'Putin's banker' files $10 billion claim against Russia. Sergei Pugachev, a tycoon once dubbed "Putin's banker" because of his influence in the Kremlin, has filed a

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