Taiwan Dollar Advances Most in Five Years as Stock Inflows Surge
- Global funds poured $5.4 billion into island’s shares in July
- Taiwan company earnings good, currency stable, analyst says
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Taiwan’s dollar rose the most in five years as overseas investors added to their holdings of local stocks, after pouring in the most money since 2007 last month as the outlook for the island’s technology industry improved.
Global funds bought a net NT$12.8 billion ($405.96 million) of the island’s equities on Monday, following $5.4 billion of purchases in July that were the most among nine Asian markets tracked by Bloomberg. The inflows helped drive the benchmark Taiex index to a one-year high.