Approaching 28.00 Handle

Taiwan dollar is weaker, USD/TW last up 0.021 at 27.986 and approaching the 28.00 handle. Some of the weakness is attributed to equity outflows, the Taiex fell the most since May yesterday and is down around 0.3% in early trade today. Exchange data showed foreign investors sold TWD 50.1bn of Taiwanese equities yesterday which denoted the biggest outflow since March 4.

• Markets look ahead to BOP current account data today, export orders are expected to have risen 21.2% in July, down from a 31.1% rise in June, this would be the sixteenth month of expansion. Last month the government said the outlook for export orders related to tech goods remains strong on demand for high-end chips and ahead of the year-end holiday shopping season. Taiwan's exports rose for a thirteenth straight month in July setting a new record, as manufacturers accelerated production to meet a global shortage of computer chips.