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FXstreet.com (Barcelona) - The outlook for most Asian currencies looks promising, according to a recent research study by HSBC. The bank expects the good performance to continue through 2013.

HSBC: "There are two factors at play that should see investors pivot towards Asian currencies. First, global tail risks are subsiding, particularly in the Eurozone. Second, growth in Asia is turning stronger, which should benefit the cyclical nature of the region's currencies. Putting these factors together shapes our underlying view that the region's currencies can do better. That said this year will still require a selective approach towards Asian FX, at least in the first half of the year."

Breaking down the outlook for the region's currencies, HSBC gives a positive outlook to both the KRW and PHP, "even though they were the top performing currencies last year and the impetus for fresh macro prudential measures to slow currency appreciation is becoming stronger" the bank notes. The THB is also on top of the list to enjoy a good performance in 2013, ahead of the SGD, MYR and TWD. Lastly, HSBC adds: "We remain cautious on the IDR but see the INR making something of a recovery."

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