Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Taiwan Dollar Advances After Global Funds Add to Share Holdings

Don't Miss Out —
Follow us on:

Oct. 19 (Bloomberg) -- Taiwan’s dollar strengthened after global funds added to holdings of the island’s stocks. Government bonds slipped.

International investors bought $681 million more Taiwanese shares than they sold this month through yesterday, according to exchange data. Exporters are repatriating overseas income, which is supporting the local currency, according to Henry Lin, a foreign-exchange trader at Taiwan Shin Kong Commercial Bank.

“We’ve seen some foreign funds coming in,” said Taipei-based Lin. “There’re also some exporters selling the greenback.”

Taiwan’s dollar closed 0.3 percent stronger at NT$30.100 against its U.S. counterpart, according to Taipei Forex Inc. It touched NT$30.005 yesterday, the highest level since Sept. 21.

The yield on the 2 percent bonds due July 2016, the most-traded government securities, increased one basis point to 1.053 percent from 1.043 percent, prices from Gretai Securities Market show.

The overnight money-market rate, which measures interbank funding availability, was steady at 0.394 percent, according to a weighted average compiled by the Taiwan Interbank Money Center.

To contact the reporter on this story: Andrea Wong in Hong Kong at awong268@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net