The New Taiwan dollar turned in a strong performance yesterday, gaining 0.6 percent, or NT$0.215, to NT$34.60 against its US counterpart at the close of trading, the highest level in almost three weeks, dealers said.
The NT dollar opened at NT$34.815 and fluctuated between NT$34.54 and NT$34.87 on what traders called a technical rebound that might last until the end of this month.
A currency dealer linked the NT dollar’s upturn to a sharper increase by the South Korean won, whose showing is widely considered a critical factor in valuating the NT dollar.
“For the foreseeable future, the two currencies will remain locked in a tight race in a bid to vie for export orders amid the downturn,” the dealer said by telephone on condition of anonymity.
Turnover was US$1.213 billion on Taipei Forex and the amount stood at US$397.5 million on the smaller Cosmos Foreign Exchange, leaving an aggregated volume of US$1.61 billion, the two companies data showed.
The dealer dismissed reports the NT dollar’s increase was due to the narrowing decline in exports last month, noting the data showed foreign trade remained drab despite rush orders from China. He believed the NT dollar would trade between NT$34.5 and NT$35 this month and head down to mirror the recession.
“There is no overnight fix for economic woes,” the dealer said.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
RSS