![Won leads_1219](https://firstmetro.com.ph/wp-content/uploads/2023/12/Won-leads_1219.jpg)
- The South Korean won led most emerging Asian currencies lower as comments from Fed officials spurred traders to lower expectations of interest-rate cuts early next year. Stocks fell with most bonds.
- The yen declined after the Bank of Japan kept its policy rate unchanged Tuesday and persisted with the world’s last negative-rate regime.