Dollar Drop Seen Bolstering Asia’s Stock Rally by Luring Inflows
- Taiwan Semiconductor, Samsung aided region’s climb this month
- State Street says emerging Asia is among the ‘brightest spots’
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The sliding U.S. dollar is buttressing the case for a further recovery in Asian shares despite jitters caused by spikes in coronavirus cases.
The drop in the greenback -- about 4% in July alone -- may spur flows to Asian markets, fund managers and strategists said. The MSCI Asia Pacific Index capped its fourth monthly gain Friday, helped by technology shares. Taiwan Semiconductor Manufacturing Co. briefly became the world’s 10th most valuable firm in the past week. Samsung Electronics Co. advanced about 7%.