Emerging markets-DBS lifts Singapore stocks after record profit; Asian currencies tick lower

In foreign exchange, the MSCI gauge of emerging currencies .MIEM00000CUS eased after rising as much as 0.2% to a record high.

The South Korean won KRW=KFTC weakened 0.3% after appreciating to its strongest since early October last year, at 1,414.5 per U.S. dollar, while Taiwan's dollar TWD=TP strengthened to a mid-July high of 32.23.

The Thai baht THB=TH and Indonesia's rupiah IDR= gained earlier in the session but reversed course by Asia afternoon trade.

Crude prices remained anchored near mid-July lows on progress in Iran-Oman talks, lifting hopes for a resolution in the Middle East that would reopen the Strait of Hormuz and supporting the currencies of energy-reliant countries. O/R

"The runtime of this appreciation hinges mostly on whether the de-escalation holds. We've lost count of how often this pattern plays out," said Zavier Wong, a market analyst at eToro.