Hot Money Battle Royale! The New Taiwan dollar dropped 3.79 cents during the session, breaking out into a record high amount.

The New Taiwan dollar fell sharply during the session today.

[Reporter Chen Meiying/Taipei Report] Rising inflation in the United States, coupled with concerns about AI financing, triggered selling pressure on technology stocks. The Korean stock market fell to the circuit breaker, and the Taiwanese stock market fell more than a thousand points again. Foreign investors sold more than 300 billion yuan in a single day, setting a record high. Continuous foreign investment in Taiwan stocks triggered a large-scale remittance of hot money. The exchange rate of the New Taiwan dollar against the U.S. dollar once depreciated 3.79 cents during the session. At the end of the day, under the adjustment of the central bank, it closed at 32.265 yuan, still down 1.92 cents. The trading volume of Taipei Foreign Exchange Brokerage Company reached US$7.03 billion, setting another historical record.

After a one-day rebound yesterday, the Taipei stock and exchange market encountered heavy selling pressure again today. Taiwan stocks fell 1,655.96 points to close at 46,969.87 points. The three major legal entities sold more than 370.076 billion yuan in total, of which foreign investors sold more than 302.555 billion yuan in a single day, setting a new historical record.

After foreign investors oversold Taiwanese stocks for days, the pressure on remittances increased, and the New Taiwan dollar was under heavy selling pressure throughout the day. The exchange rate opened at 32.11 yuan in early trading, and fell below 32.3 yuan in the morning. The decline further expanded in the afternoon, and it fell as much as 3.79 cents during the session. Although the central bank and exporters actively entered the market to sell foreign exchange, it was still difficult to offset the huge demand for remittances from foreign capital. The central bank made adjustments again at the end of the day, and the depreciation of the New Taiwan dollar was restrained, and it finally closed at 32.265 yuan. On that day, the trading volume of Taipei foreign exchange brokerage companies simultaneously increased to 7.03 billion U.S. dollars, setting a new historical record, reflecting the rising market risk aversion and the sharp increase in pressure to remit funds.