Taiwan Bonds Drop, Currency Strengthens on US Recovery Signs

Taiwan’s government bonds dropped
and the local dollar advanced as signs the U.S. economic
recovery is gaining momentum brightened the outlook for exports
and fueled demand for higher-yielding assets. 

Global funds bought $378 million more of the island’s
stocks than they sold yesterday, the highest net purchases in a
month, according to exchange data. Taiwan’s overseas sales
gained 10.3 percent in February from a year earlier after
slumping 16.8 percent the previous month, official data show.
The central bank, which left its benchmark interest rate at
1.875 percent in December, will next review monetary policy on
March 22. The Ministry of Finance will release its second-
quarter bond auction plan the next day.

Link (submitted by Anna)