Asian currencies dropped for a fourth week, the longest run of losses since June, as concern that some European nations would struggle to contain and finance budget deficits eroded demand for emerging-market assets.
Malaysia’s ringgit and the Singapore dollar led declines as the MSCI Asia-Pacific Index of regional shares slumped to a 10-week low.
The ringgit dropped 1 percent this week to 3.4445 per US dollar in Kuala Lumpur, and touched a four-month low of 3.4540 on Friday, according to data compiled by Bloomberg. The Singapore dollar lost 1.3 percent to S$1.4233, while the South Korean won slid 0.7 percent to 1,169.45.
The New Taiwan dollar yesterday traded near the strongest level in three weeks, closing up NT$0.003 to NT$32.184 against the US dollar.
The euro headed for a fourth weekly loss versus the US dollar and yen. The euro slid 1.3 percent to US$1.3678 from US$1.3863 last Friday. Against the yen, the euro dropped 2.4 percent to ¥122.09, after falling 3.4 percent on Thursday, the biggest drop since October 2008. The US dollar fell 1.1 percent to ¥89.25, from ¥90.27 last week.
The pound declined 2.2 percent in the week, the most since the five days through Sept. 18, and was at US$1.5630 as of 5:30pm in London on Friday. Sterling declined 0.5 percent to £0.8716 per euro and was 3.3 percent weaker at ¥139.60.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
CAUSE AND EFFECT: China’s policies prompted the US to increase its presence in the Indo-Pacific, and Beijing should consider if this outcome is in its best interests, Lai said China has been escalating its military and political pressure on Taiwan for many years, but should reflect on this strategy and think about what is really in its best interest, President William Lai (賴清德) said. Lai made the remark in a YouTube interview with Mindi World News that was broadcast on Saturday, ahead of the first anniversary of his presidential inauguration tomorrow. The US has clearly stated that China is its biggest challenge and threat, with US President Donald Trump and US Secretary of Defense Pete Hegseth repeatedly saying that the US should increase its forces in the Indo-Pacific region
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