By Yumi Teso and David Yong April 30 (Bloomberg) -- Asian currencies climbed for a fourth month, paced by the Malaysian ringgit and Singapore dollar, as improving earnings and economic data led foreign investors to pour money into emerging markets. The Bloomberg-JPMorgan Asia Dollar Index rose 1 percent in April, while reports in South Korea and Singapore this week showed rebounding factory production. The MSCI Asia-Pacific Index of regional shares climbed as much as 1.2 percent today after Samsung Electronics Co. reported first-quarter net income jumped almost sevenfold and Greece made progress on budget cuts needed to win a $159 billion bailout. “I’m bullish on the Asian market outlook” given the recovery signs, said Bernard Tan, an investment manager at T- Mara Capital in Singapore. “Also, the Greek crisis will be resolved as the EU will be prompted to act when pushed into a corner by the market.” The Korean won appreciated 2 percent this month to 1,108.30 per dollar as of the 3 p.m. close in Seoul, according to data compiled by Bloomberg. The Singapore dollar climbed 2.4 percent to S$1.3669 and Malaysia’s ringgit strengthened 2.4 percent to 3.1850. Bond Inflows Emerging-market bond funds had the three best weeks on record this month, taking in more than $5 billion as investors favored local-currency assets, EPFR Global said. Funds tracked globally by EPFR that invest in debt had net inflows of $6.73 billion for the fourth week of April, while those focused on equities took in $4.86 billion, according to a statement released late yesterday by the Massachusetts-based firm. Foreign investors purchased $4.4 billion more Korean shares than they sold in April through yesterday, compared with net purchases of $3.4 billion for Taiwan and $108 million for Indonesia, according to stock exchange data. The won was the best performer among the 10 most-active regional currencies today after the statistics office said production rose for a ninth straight month in March. Output increased a greater-than-estimated 22.1 percent from a year earlier. “Greece is taking the weight off sovereign debt issues and giving the equity markets a bit of a boost,” said Bernard Yeung, Hong Kong-based head of currency trading for Asia at National Australia Bank Ltd. “The economic data is still a positive number, but just not as good as before.” Escalating Tensions Thailand’s baht posted its biggest weekly loss since January after the worst political violence in 18 years prompted overseas investors to cut their holdings of the nation’s shares. The currency slid to a two-week low yesterday and foreigners sold more stocks than they bought for a sixth day after a soldier was shot dead and two more were injured in a skirmish with anti-government protesters. The demonstrators have been occupying a district of Bangkok since April 3 and clashes involving them have claimed 27 lives this month. “There is concern foreign investors will sell more Thai stocks amid the worsening political situation,” said Hideki Hayashi, a global economist at Mizuho Securities Co. in Tokyo. “The baht is one of the region’s weaker currencies because there’s uncertainty as to when the political turmoil will end.” Thai Baht The baht dropped 0.2 percent to 32.35, taking this week’s loss to 0.4 percent, according to data compiled by Bloomberg. The currency yesterday touched 32.39, the weakest level since April 14. The baht may trade between 32 and 32.40 in May, Hayashi said. Foreign investors sold 6 billion baht ($186 million) more Thai equities than they bought in the last four days, according to stock exchange data. They recorded the biggest net sales in five months on April 28, when authorities used force to prevent a convoy of about 5,000 demonstrators from traveling to the north of Bangkok. Seventeen protesters were injured in the incident, which led to the soldier’s death. Elsewhere, the Philippine peso gained 1.6 percent this month to 44.455 per dollar, a third monthly rally. The Taiwan dollar advanced 1.1 percent to NT$31.418 and Indonesia’s rupiah rose 0.9 percent to 9,013. --With assistance from Frances Yoon in Hong Kong. Editors: Sandy Hendry, Ven Ram %VND %KRW %KRW %USD %SGD %THB %PHP %TWD %IDR %MYR %HKD %CNY To contact the reporter on this story: Yumi Teso in Bangkok at at yteso1@bloomberg.net; David Yong in Singapore at dyong@bloomberg.net. To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net.

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