Taiwan’s currency and stock market are paring gains after displays of record-breaking strength earlier this week.

The New Taiwan dollar was around 0.7 per cent weaker against the dollar at US$31.254 in early afternoon trading, while the Taiwan Stock Exchange’s benchmark Taiex index had fallen about 1 per cent, driven by falls in the share prices of major semiconductor and auto components manufacturers.

Both had seen gains this week putting them at their strongest levels in a year following the release of export data for July, which showed the first instance of annualised growth in eighteen months. Today’s moves put the index down about 1 per cent from its high point on Wednesday, while the currency has likewise weakened by about 1 per cent from a peak in strength on Tuesday.

But those records only served to highlight quiet, steady gains by both in the year to date: Taiwan’s currency is still 4.81 per cent stronger against the US dollar for the period, while its stock market remains higher by nearly 9.3 per cent.

Get alerts on Front page when a new story is published

Copyright The Financial Times Limited 2019. All rights reserved.
Reuse this content (opens in new window)

Comments have not been enabled for this article.

Follow the topics in this article