Economics
Taiwan Dollar Forwards Drop as Export Outlook Dims; Bonds Rise
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Taiwan dollar fell the most in three weeks after reports stoked concern China’s economic rebound is losing momentum, damping the outlook for exports to the island’s biggest market. Government bonds gained.
China’s Purchasing Managers’ Index dropped to a five-month low of 50.1 in February, while a separate gauge compiled by HSBC Holdings Plc and Markit Economics fell to a four-month low of 50.4, reports showed March 1. Economists forecast data on March 7 will show Taiwan’s overseas shipments shrank 8.1 percent last month from a year earlier, after rising 21.8 percent in January, based on the median estimate in a Bloomberg News survey.