The New Taiwan dollar surged sharply, hitting a 3-month high. (Photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]Federal Reserve Chairman Jerome Powell “released doves”, coupled with the relaxation of epidemic prevention measures in some parts of China. Inspired by the two major bulls, Taiwan stocks opened higher and recovered “ten thousand five”; At one point, Zhongyuan rose nearly 30 cents, and finally closed at 30.633 yuan, with a strong rise of 2.69 cents. The Taipei foreign exchange brokerage company alone broke out a huge amount of US$2.012 billion.
Powell’s public speech yesterday mentioned that the Fed’s interest rate hike will slow down in December at the earliest. The market believes that Powell’s “dovish” remarks made US stocks soar in response. . Taiwan stocks soared 133.25 points to close at 15012.8 points. The three major legal entities bought over 13.854 billion yuan in total, of which foreign capital bought over 15.909 billion yuan.
Foreign capital bought more Taiwan stocks and remitted them in large quantities, and exporters were also caught off guard and dumped foreign exchange, pushing up the exchange rate of the New Taiwan dollar all the way up. It once touched 30.606 yuan in the intraday, and it soared nearly 30 cents. The market dumped the US dollar crazily. We had no choice but to enter the market to provide US dollar liquidity, so that the rise of the Taiwan dollar was slightly controlled, and the market trend changed. It cannot be ruled out that the NT dollar exchange rate will move towards the 30.5 yuan mark in the next step.
Looking at the major Asian currencies, they all performed well under the weakening of the US dollar. The FOB price of RMB had already risen sharply for a period of time yesterday when the anti-epidemic measures were announced in the market. Today, it has pulled back a little to sort out, but it has already approached the 7 yuan to 1 dollar mark. On the other hand, the Japanese yen broke through the 138-dollar consolidation range, reaching a peak of 135.81 today, setting a new high in three months. The Korean won once rose above the 1,300-dollar barrier.
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