Asian currencies strengthen for a second week

SINGAPORE - Asian currencies strengthened for a second week, led by South Korea's won and Malaysia's ringgit, as optimism that the global economic recovery is intact bolstered demand for emerging-market assets.

The Bloomberg-JPMorgan Asia Dollar Index touched a two-week high and the region's stocks completed a second weekly advance as global investors pumped more than $1.6 billion into equities in South Korea and Taiwan. India's economy expanded faster than economists estimated and South Korea's current-account surplus rose to a nine-month high, separate reports showed last week.

"When concerns over the global economy and volatility ease, money comes back to Asia," said Kozo Hasegawa, a currency trader at Sumitomo Mitsui Banking Corp in Bangkok.