Hot Money Chases Taiwan Stocks to New Highs, New Taiwan Dollar Surges 1.17 Cents to Close at NT$31.488

Q: What are the key facts in this article?

Taiwan's stock market surged past 41,000 points, setting a new record. This attracted hot money, causing the New Taiwan Dollar to sharply appreciate against the US Dollar, closing at NT$31.488.

Q: What is the direct answer?

Taiwan's stock market surged past 41,000 points, setting a new record. This attracted hot money, causing the New Taiwan Dollar to sharply appreciate against the US Dollar, closing at NT$31.488.

Q: What is the source and date?

Source: https://www.cna.com.tw/news/afe/202605060327.aspx | Date: Date unavailable

Central News Agency (CNA Taipei, May 6, comprehensive foreign report) -- Taiwan's bull market continued today, breaking through 41,000 points and setting a new record, attracting a large influx of hot money. The New Taiwan Dollar exchange rate also sharply appreciated, closing today at NT$31.488, a strong surge of 1.17 cents. The total transaction amount in the Taipei and Yuan Tai foreign exchange markets expanded to US$2.7205 billion. Taiwan stocks today, led by strong performances from heavyweight stocks like TSMC, Delta Electronics, and MediaTek, pushed the index to a new high of 41575.84 points, closing at 41138.85 points, also a new closing high. Foreign investors also increased their net purchases, buying an additional NT$75.105 billion today, marking the fourth largest net purchase amount in history. With a weakening US dollar, a strong Taiwan stock market, and an influx of hot money, all appreciation factors converged. The New Taiwan Dollar opened against the US Dollar at NT$31.57 today, and the exchange rate rose steadily, reaching a high of NT$31.456. Foreign exchange traders stated directly that while foreign investors were operating two-way in previous days, today they no longer hesitated, with almost one-sided inflows. Exporters, seeing the exchange rate approach NT$31.4, dared not wait any longer and rushed to sell foreign currency, further pushing the exchange rate to a high point. The entire market sentiment is pushing the New Taiwan Dollar towards appreciation, and while the central bank is making adjustments, it will not go against the trend. Foreign exchange traders analyzed that in addition to the generally weaker international US dollar, market rumors today indicated that the Bank of Japan aggressively intervened in the foreign exchange market, causing the Japanese Yen to briefly surge to the 155 mark, which also had some impact. Compared to previous years, the Bank of Japan's intervention in the foreign exchange market seems to be higher in mag

Hot Money Chases Taiwan Stocks to New Highs, New Taiwan Dollar Surges 1.17 Cents to Close at NT$31.488

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