SINGAPORE, April 29 — The South Korean won hit a near six-year high today, leading gains among emerging Asian currencies, though many investors stayed cautious ahead of events this week including the US Federal Reserve policy meeting.

The won advanced after central bank data showed South Korea posted its 34th consecutive monthly current account surplus in March, thanks to resilient exports and low prices of imported raw materials. The currency ignored North Korean live fire drills in two areas near a disputed sea border.

Malaysia’s ringgit rose as investors covered short positions after a strong auction on government bonds. The country sold RM4.0 billion (US$1.2 billion) in government bonds maturing in 2019 at an average yield of 3.654 per cent with bid-to-cover ratio at 2.71 times.

The Taiwan dollar gained on stock inflows.

Thailand’s baht, however, fell as five- and 10-year government bond yields rose. — Reuters