Emerging Markets-Emerging Asia stocks slide, currencies tread water as oil tops $100

"Asian currencies have been relatively resilient because they are not trading purely as an energy story," said Fesa Wibawa, an investment manager at Aberdeen Investments.

The rally in the Japanese yen has contributed to broader dollar weakness, and regional currencies tend to benefit from that correlation, Wibawa said.

Central-bank management, external buffers and portfolio flows have also helped offset some of the terms-of-trade pressure from higher energy prices, Wibawa added.

The Singapore dollar SGD=, the Thai baht THB=TH and the Philippine peso PHP= were largely unchanged, while the Indonesian rupiah IDR= weakened 0.2% to 17,535 against the dollar.

The South Korean won KRW= strengthened against the greenback to 1,340.10, not far from its October 2024 peak of around 1,349.