Due to the Federal Reserve’s dovish stance, the New Taiwan Dollar (TWD) showed a strengthening trend today (21st), appreciating up to 1.34 basis points before closing at 31.832 TWD, a gain of 3.6 basis points. The trading volume at Taipei Forex Brokers dropped to less than $1 billion USD. The rebound of the New Taiwan Dollar effectively supported Taiwan stocks in holding above the 20,000-point mark, with the weighted index setting a new record high.
The New Taiwan Dollar opened at 31.82 TWD, a gain of 4.8 basis points, reached a high of 31.734 TWD, and closed at 31.832 TWD, showing a gain of 3.6 basis points. The trading volume at Taipei Forex Brokers was $0.998 billion USD, with a daily high-low difference of 1.11 basis points.
Among major Asian currencies, the South Korean Won appreciated by nearly 0.3%, while the Japanese Yen and New Taiwan Dollar gained around 0.1%. The Singapore Dollar and Hong Kong Dollar saw slight gains, the Chinese Yuan remained near flat, and the Thai Baht depreciated by almost 0.2%.
Market analysts noted that the Federal Reserve’s decision to keep interest rates unchanged, as expected by the market, led to a drop in the US ten-year bond yield. In terms of fund flows, there are several new ETF listings in the domestic market this March, indicating strong momentum from local funds. Additionally, multiple tech conferences scheduled for this week are expected to support the performance of tech stocks.