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Challenges 28.50

TWD

Taiwan dollar is weaker, USD/TWD last changing hands at 28.464 after twice retreating from 28.50 yesterday. The pair has risen for six straight days. Some of the decline in TWD is attributed to outflows from local stocks. Foreigners sold $178.56m of Taiwanese stocks yesterday, the fifth outflow in six days, and brings the sum of outflows in March to $4.5bn.

  • Data yesterday showed Taiwan's export orders continue to soar, even despite the survey period falling over LNY. Export orders rose 48.5% in February, compared to estimates of 45.4%. Growth in March is expected to be between 35.4% and 39.1%, which if confirmed would mean record Q1 export growth.

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