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TSMC Results Eyed

TWD

Taiwan dollar is stronger, USD/TWD dropping towards the 28.00 handle last down 0.044 at 28.085. The highlight today will be TSMC Q3 results; analysts expect the semi conductor giant to report an increase in profit to a record TWD 149.7bn. Once again the report will be scrutinized for any details of spending plans and its outlook on demand. Apple suppliers could come under pressure as the firm is set to cut its iPhone output goal. On the geopolitical front Defence Minister Chiu warned that responses to China's incursions into air space will face tougher responses if they continue. The line to be taken is that "the closer they get to the island, the stronger we will hit back".

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