Bloomberg the Company & Products

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

Communications

Industry Products

Media Services

Follow Us

Taiwan Dollar Weakens for Second Day on Slowing Export Growth

Don't Miss Out —
Follow us on:

Oct. 21 (Bloomberg) -- Taiwan’s dollar fell for a second day after data showed export orders rose at the slowest pace in two years, leading to a sell-off of local stocks. Government bonds were steady with yields at the lowest level this week.

Overseas orders, an indication of shipments in the next one to three months, grew 2.72 percent last month from a year earlier, the government reported toward the end of currency trading yesterday. The median estimate of economists in a Bloomberg survey was for a 3.46 percent increase. Global funds sold $69 million more local shares than they bought today, taking net sales for the year to $10.1 billion, according to exchange data.

“The weak export orders data just adds to more and more evidence that Taiwan’s economy will slow,” said James Wang, a fixed-income trader at Yuanta Securities Co. in Taipei. “Looking forward, Taiwan yields will go down.”

Taiwan’s dollar weakened 0.1 percent to NT$30.299 against its U.S. counterpart, according to Taipei Forex Inc. It touched NT$30.351 earlier, the lowest level this week. The currency was little changed this week.

The yield on the 2 percent bonds due July 2016 gained one basis point, or 0.01 percentage point, today and by the same amount this week to 1.049 percent, prices from Gretai Securities Market show.

The overnight money-market rate, which measures interbank funding availability, was steady at 0.390 percent, according to a weighted average compiled by the Taiwan Interbank Money Center.

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

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.