Stocks are soaring! The New Taiwan dollar surged by more than 1 dime during the session, hitting a new high in more than three months.

Although the U.S. employment data is eye-catching and market expectations for the Federal Reserve (Fed) to raise interest rates have been rising, the Asian market interprets that the fundamentals of the U.S. economy are strong, which is conducive to the continuation of AI demand and technology stocks. Taiwan stocks today (7th) were led by electronic weight stocks such as TSMC. After a sharp rise, foreign capital simultaneously covered a large amount of money. The inflow of hot money drove the strength of the New Taiwan dollar. It once rose to 31.505 yuan, approaching the round number of 31.5 yuan, and finally closed at 31.552 yuan, an appreciation of 7.8 cents. The exchange rate had 2 consecutive reds and hit a new high in more than 3 months.

The Taiwan stock market surged 775.14 points today, closing at 47326.27 points. The three major legal entities simultaneously bought more than 113.865 billion yuan. Among them, foreign investors continued last week's overbuying action, and the amount of overbuying further expanded to 88.308 billion yuan today, the fourth largest single-day overbuying amount in history.

As foreign investors aggressively bought more Taiwan stocks and funds were transferred in, the New Taiwan dollar exchange rate expanded during the session, reaching a maximum of 31.505 yuan, rising 1.25 cents, approaching the 31.5 yuan mark. In late trading, with slight adjustments from the central bank, the increase slightly converged, but still closed at 31.5 yuan.

Huiyin people pointed out that the latest employment data in the United States was significantly better than market expectations. Although it once boosted market expectations for the Fed to raise interest rates, investors are still waiting for inflation data such as PPI and CPI to be released this week to further confirm the direction of the Fed's subsequent monetary policy. The current interest rate futures market estimates that the chance of raising interest rates in September is still more than 50%.

On the other hand, Asian financial markets interpret that the fundamentals of the U.S. economy are still resilient, which will help continue the demand for AI, driving the general strength of Asian technology stocks today. In addition to the surge in Taiwanese stocks, Japanese and Korean stock markets also rose simultaneously, and most major Asian currencies appreciated.

Among them, the South Korean won has the strongest rise, hitting a new high in more than 2 years; the Japanese yen has also significantly expanded its rise against the US dollar in the afternoon, and has now exceeded the 155 price level.

According to statistics from the central bank, as of 4 p.m., the U.S. dollar index fell slightly by 0.03%. Among the major Asian currencies, the Korean won appreciated by 0.63%, the Japanese yen appreciated by 0.48%, the New Taiwan dollar appreciated by 0.25%, the Singapore dollar appreciated by 0.06%, and the RMB remained unchanged.

People from Huiyin said that the New Taiwan Dollar has recently benefited from the rise in the stock market and the capital market, and has returned to the trend of appreciation. Especially today, foreign investors have purchased Taiwan stocks in large quantities, which has significantly boosted the momentum of capital inflows. The New Taiwan Dollar is still on the rise in the short term, and is expected to challenge the 31.5 yuan mark again tomorrow.