">Forum Views ()
">Forum Replies ()
Read more with google mobile :
Taiwan dollar surges on China ties, global outlook
Yahoo!
My Yahoo!
Mail
Yahoo! Search
Search:
Sign InNew User? Sign Up
News Home -
Help
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Taiwan dollar surges on China ties, global outlook
Reuters - Monday, May 4
* Taiwan dollar surges to 5-month high
ADVERTISEMENT
* China ties, optimism on global economy boost the currency
* Central bank intervenes actively to curb gains
TAIPEI, May 4 - The Taiwan dollar rose sharply to its highest level this year on Monday due to warming trade ties with China and as signs that the worst might be over for the global economy pushed up the island's financial markets.
By 0143 GMT, the Taiwan dollar <TWD=TP> strengthened by T$0.400, or 1.2 percent, to as high as T$32.833, the highest intraday level since Dec. 31 last year.
Some U.S. dollar buying by the central bank caused the Taiwan dollar to give up some gains to trade at T$32.970 by 0222 GMT, still higher than the close of T$33.233 on Thursday, a day before the long Labour Day weekend.
"Asian currencies and Taiwan stocks are all rising quite sharply, giving the Taiwan dollar a lot of upward momentum," said a dealer in Taipei.
"In the first 20 minutes or so, the central bank was responsible for more than half the trade as it was trying to limit the local currency's gains."
Some dealers said prospects of China investments coming to Taiwan helped boost market sentiment, in increasing signs that ties between Taiwan and China were improving under Taiwan President Ma Ying-jeou.
Investors in the region welcomed improving global economic data, pushing up Taiwan stocks <.TWII> by 5.6 percent in early trade.
The central bank, which maintains the Taiwan dollar in a managed float, typically buys and sells U.S. dollars in the forex market to curb huge swings in the local currency.
On the main Taipei Forex Inc exchange, volume was a heavy $1.036 billion after an hour and 15 minutes, but lower than $1.6 billion during the same period on Thursday.
The Taiwan dollar weakened in the first two months of 2009 as economic data worsened, but has since firmed on signs of improvements in the global economy.
On the smaller Cosmos exchange <COSMOS1>, the Taiwan dollar firmed to T$32.950 to the U.S. dollar from Thursday's close of T$33.060. (Reporting by Lee Chyen Yee and Lin Miao-jung; Editing by Chris Lewis)
Email Story
IM Story
Printable View
Blog This
Recommend this article
0 users recommend
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: China's Economy
Asia stocks rise on US hopes; Taiwan jumps 5.6 pctAP - 1 hour 46 minutes ago
China bans pork imports from Alberta: govtAFP - Monday, May 4
Taiwan dollar surges on China ties, global outlookReuters - Monday, May 4
RPT-China hopes draw billions in foreign funds back to AsiaReuters - Monday, May 4
Related Articles: Business
Old Japanese maps on Google Earth unveil secretsAP - 1 hour 12 minutes ago
Australia delays carbon trade, may toughen targetReuters - 1 hour 14 minutes ago
Asia faces up to challenges of global crisisReuters - 1 hour 14 minutes ago
WRAPUP 2-Asia faces up to challenges of global crisisReuters - 1 hour 15 minutes ago
Shinhan sees Q2 interest margin drop slowingReuters - 1 hour 16 minutes ago
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
GM could follow Chrysler into bankruptcy: analysts
Kenyan women to sex-starve men -- for politics
Swine flu in decline: Mexico
Citigroup may need $10 bln more: report
Father rejects Madonna's adoption bid: report
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy
- Terms of Service
- Community
- Intellectual Property Rights Policy
- Help
Other News on Monday, 4 May 2009 Nepal government wobbles over army chief's sacking
| International
|
Iraq rules out extension of U.S. withdrawal dates
| International
|
France captures 11 suspected Somali pirates
| International
|
Wolverine slashes rivals in $160 million global bow
| Entertainment
|
Angels & Demons director sees Vatican meddling
| Entertainment
|
Mexico breathes easier in flu epidemic
| International
|
Pentagon chief to reassure Saudis on Iran outreach
Australia delays carbon trade, may toughen target
| International
|
Iraq rules out extension of U.S. withdrawal dates
Karzai signs up for Afghan poll, names running mates
| International
|
Former Israeli premier faces prostate cancer
Nepal president defies Maoists over sacked army head
| International
|
Fiat boss unveils plans for European car giant: FT
Supermarket tycoon wins Panama election
| International
|
Swine flu in decline: Mexico
Indian communists face farmer backlash in election
| International
|
Venezuela military helicopter crash kills 17
| International
|
In crisis more Russian men want talk, not sex
| International
|
China quake survivors face intimidation, detention: Amnesty
| International
|
NY Times Co. threatens Boston Globe shutdown
Report: Senators seek answers on KBR overcharges
Syria's Assad urges US to talk to Hamas, Hezbollah
US flu tally jumps to 245 as labs catch up
Berlusconi's wife wants divorce: reports
John Edwards faces federal investigation
Czechs, Slovak killed in Austrian Alps avalanche
Alaska volcano shows increased unrest
Jackson says NAACP must help save auto industry
Craigslist founder helps memorialize murder victim
Season of tragedy ending at Sierra ski community
21 dead in India as bus falls into river
21 dead as bus falls into river in India
Obama to meet Afghan and Pakistan leaders
Jenny McCarthy inks deal with Winfrey's Harpo
| Entertainment
|
Nepal in crisis over attempts to fire army chief
NBC renews Medium
| Entertainment
|
At least 20 dead as storm batters Philippines
IFC Films hearts Valentine's Day
| Entertainment
|
Amnesty says China quake survivors face intimidation, detention
Green Day tests new ground on way to Breakdown
| Entertainment
|
Storms leave 20 dead in Philippines
Weather forecast for the Asia-Pacific region
ADB head: Asia must tackle poverty, climate change
China denies targeting Mexicans
New Zealand slump may have deepened, job market weakens
Nepal row flares after army chief sacked
ADB sees 'mild recovery' next year
Hollywood Wax Museum auctions wax celebs
Firmer won, earnings draw funds back to S.Korea
Korea Hot Stocks-Retailers, shipbuilders, Hyundai Steel up
KKR in talks on buying AB InBev unit in SKorea
China bans pork imports from Alberta: govt
Taiwan dollar surges on China ties, global outlook
Hollywood Wax Museum auctions wax celebs
S.Korea govt bonds slide after export, CPI data
No butts: China orders officials to smoke
Seoul shares open higher, financials lead gains
Saddam gets stamp of disapproval from Iraqi show
Jenny McCarthy inks deal with Winfrey's Harpo
Pete Seeger turns 90 with birthday concert in NYC
China's Mongols see bleak future for their culture
Ron Howard movie `Parenthood' reborn as NBC series
CBS launches unprecedented ad campaign
Ron Howard: Vatican obstructed 'Angels & Demons'
The films that highlighted this year's Tribeca
Vatican plays down differences before Israel trip
Pakistan battles Taliban
| International
|
Wave of attacks in south Afghanistan kill 29
Berlin studies request to take Guantanamo prisoners
| International
|
Attacks kill 20 in southern Afghanistan
Israel's Peres omits mention of Palestinian state
| International
|
European economy to shrink four percent
Iran says U.S. sanctions will not halt nuclear work
Berlusconi rejects patch-up with wife, seeks apology
| International
|
Spanish judge to probe deadly Israeli raid on Gaza
Fiat plans new global car giant
Eritrea sick of Somalia arms accusations
| International
|
Madonna launches appeal against adoption rejection
Taylor's request for war crimes acquittal rejected
| International
|
Obama outreach to Muslims worries Israelis
Greek scandal vote may force snap election
| International
|
Court okays breast removal for transsexual teen: report
Afghan suicide attack kills seven, including mayor
Venezuelan capital jolted by 5.3 earthquake
| International
|
Afghan leader heads to US for anti-terror summit
Australia delays emissions trading
New York Times Co wields axe over Boston Globe
Chad and Sudan agree to halt attacks
Climate change 'cultural genocide' for Aborigines
HP and RIM form alliance on BlackBerry
| Technology
|
EU urges Internet governance revamp
| Technology
|
Journalist group: US reporter hospitalized in Iran
EU urges Internet governance revamp
Obama to crack down on business taxes
4 dead in Fla. family slaying; teen son escapes
Buffett sees end to recession, uncertain on timing
Inmates vying for coal mining jobs in Appalachia
The Nation's Weather
French forces 'killed pirate hostage' off Somalia
Storms, possible tornadoes hit South; 1 killed
Obama to attend Cinco de Mayo event on May 4
Colorado lawmakers mount up to see effects of laws
Swine flu may return 'with 'a vengeance': WHO
More court review set for '04 Janet Jackson flash
| Entertainment
|
Deadly clashes in NW Pakistan as peace deal unravels
Madonna's adoption case in Malawi adjourned
| Entertainment
|
China denies discriminating against Mexicans
Wolverine slashes rivals in debut
| Entertainment
|
Indonesia's anti-corruption chief arrested
Pakistan battles Taliban as pact hangs in balance
Asia Pacific countries start disaster drills
Indonesia police detain anti-graft boss over murder
NKorea says Obama administration same as Bush's
Pakistan peace deal under fire amid attacks
Nepal's prime minister resigns
Pakistan targets 80 bln rupees in T-bill auction
Taiwanese tycoon challenges Buffett's investment
AIG close to selling building to Japanese company
Taiwanese tycoon challenges Buffet's investment
Tech-savvy Japanese on holiday tinker with robots
Taiwan inflows surge on warming China ties
Nintendo on roll on Wii, but cautious on high yen
China triples wind power capacity goal: report
`Twilight,' `Slumdog' lead MTV award nominees
US-ENTERTAINMENT Summary
Author sees A-Rod as insecure, needing to please
B'way ticket availability through Sunday, May 10
Paternity dispute erupts in Madonna adoption case
New Orleans Jazz Fest 40th year riffs on old, new
US-TECH Summary
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights