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Taiwan $ Rises

Taiwan $ RisesTaiwan $ Rises

Taiwan’s dollar jumped the most in 15 years while South Korea’s won rose to a three-month high after improving economic data fueled demand for their equities, Bloomberg reported. Global funds purchased $2.6b more Taiwanese shares than they sold last week, the biggest net inflows since 2007, and boosted holdings of Korean stocks on Monday for the 15th day in a row, exchange data show. Reports in the past week showed Korea’s first-quarter economic growth and Taiwan’s industrial production for March beat economists’ estimates. Taiwan’s dollar climbed 1.6%, the most since January 2000, to a five-month high against the greenback, Taipei Forex Inc. prices show. In Korea, the won strengthened 0.5% to 1,074.25.

 

Financialtribune.com