The New Taiwan dollar surged 1.59 points to close at 31.903 yuan.

(Photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] The influx of foreign hot money led to a double rise in Taiwan stocks and foreign exchange rates. The exchange rate of the New Taiwan dollar against the US dollar rose by more than 20 cents in the afternoon, and finally closed at 31.903 yuan, an appreciation of 1.59 cents. A new high, and a relatively large recent burst of $2.2185 billion.

Taiwan stocks soared 291.05 points today to close at 13,638.81 points. The three major legal persons bought a total of over 23.069 billion yuan, of which foreign capital expanded the purchase rate to 24.128 billion yuan.

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Hot money from foreign capital has returned to the market, and the New Taiwan dollar exchange rate has risen sharply, reaching a high of 31.844 yuan during the session. Foreign exchange traders pointed out that in addition to being optimistic about the rebound of Taiwan stocks and foreign investment actively entering the market, financial institutions and exporters that previously held large US dollar positions Businesses have also successively made profits and sold out of the US dollar. Under the influx of a large number of foreign exchange demand in the market, the central bank once entered the market to buy foreign exchange to balance the supply and demand of the foreign exchange market.

The market outlook is to observe the endurance of Taiwan stocks and the movements of foreign capital, as well as how the market interprets the upcoming October inflation data from the United States. If the US dollar continues to weaken and Asian currencies rise together, the NT dollar is expected to continue to rise, and the next step will challenge 31.8 yuan, and moved closer to 31.5 yuan.

Observing the trend of major Asian currencies, except that the RMB is relatively weak due to the rising downside risks of China's economy, according to the central bank's statistics, the exchange rate at 4:30 pm, the Korean won rose 1.47% today, dominating the Asian currency, the Taiwan dollar appreciated 0.5%, the Japanese yen 0.85%, Singapore The currency also gained 0.45%.

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