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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TWD
Spot TWD was the best performer within the region yesterday, rising 0.9%, This puts USD/TWD back close to 31.10, fresh lows since mid-September. A break below 31.00, which also coincides with the 100-day EMA could pave the way for more gains. On the topside the 50-day EMA comes in at 31.595.
- The 1 month NDF has already broken down through this level (30.94 for the 100-day EMA), closing in NY just under 30.60.
- The last two sessions have seen a combined $2.9bn in offshore net inflows for Taiwan equities, which is the strongest back-to-back flow days since end 2005. This has put net inflows for the past month back in positive territory for the first time since the start of this year. Taiwan is also catching up with the improved flow trend already seen for South Korea, see the chart below, amid a better backdrop for tech related-equities.
- Near term equity momentum may remain positive, as ADRs for TSMC rose by nearly 7% in the US after the bell this morning. This followed reports Berkshire Hathaway accumulated a new position in the company through Q3.
Fig 1: Taiwan Net Inflows Surge In Recent Sessions
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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