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Taiwan’s currency worst in Asia as trade war hits its tech sector

Taiwan’s currency has gone from the dullest to the worst in Asia amid an outflow of overseas cash as the trade war undermines the outlook for the island’s dominant tech sector.

The Taiwan dollar has tumbled 1.4 per cent in the past five days, the biggest loss among regional peers and second-worst in the world after the Colombian peso.

Foreign funds have sold more than US$2bn (S$2.76bn) of local equities this month, the biggest outflows in Asia, as the US administration targeted China’s Huawei Technologies and a slump in the yuan pressured other exporter currencies.

 

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