New Coronavirus is Strengthening of the US Dollar

New coronavirus pneumonia spread across the globe, coupled with the strengthening of the US dollar, the US dollar index hit the 100 mark yesterday, and the currencies of the countries most affected by the epidemic, including the yen, the Korean won, and the Singapore dollar, fell sharply across the board.

(IStock) Expert: If the economy deteriorates, Han Yuan Po Yuan will continue to fall, said Christopher Wong, senior foreign exchange strategist at Malayan Banking Bhd. The number of confirmed diagnoses in South Korea has suddenly increased, which is different from the trend of slower confirmed cases in China To break market complacency. He estimates that as the economic impact of new crown pneumonia continues to worsen, Han Kun and Po Yuan may continue to suffer severe setbacks. Alan Cayetano, head of foreign exchange transactions at the Bank of the Philippines, also pointed out that the reality of the economic slowdown has been achieved; coupled with the difficulty of reducing interest rates by many Asian central banks, it is expected that emerging Asian currencies will depreciate further. 下 Under the impact of the Chinese epidemic on the global supply chain, Indonesia has not confirmed cases, but the local central bank still announced interest rate cuts and lowered the 7-day reverse repo rate by 25 pips to 4.75% to counter the potential impact of the epidemic on the Indonesian economy.

The panic of Wuhan pneumonia epidemic spreads and dragged down market investment confidence. Taiwan stocks fell and fell with US stocks today (21). Funds continued to flood into epidemic prevention concept stocks. Some electronic groups including passive components and memory stocks were supported by buying. Relatively defensive, it dropped 38 points at the end and closed at 11,686 points. It closed weekly with a turnover of 123.5 billion yuan.

The outbreak of pneumonia in Wuhan is out of control. The number of confirmed cases in China, South Korea, and Japan is rising day by day. Most of the major Asian stocks have shown double-killing. The rising epidemic has also driven funds to continue to flow into biomedical and epidemic prevention stocks. Semiconductors went out and weakened.

The epidemic prevention group includes Mao Bao, Reying, Yanuofa and high-end vaccines. With the pursuit of funds, the stock price went straight to the daily limit. Mask-related concept stocks Kang Naxiang and Evergrande also rose 7.5% and 6.8% respectively. The vaccine concept Shareholder Guangsheng also gained 4%.

South Korean memory maker Hynix has reportedly infected more than 800 employees with emergency quarantine. The market is concerned that once the epidemic spreads, the 3C market may fall into a crisis of shortage of materials, but the performance of Taiwan stocks is relatively calm. Index stocks Huabangdian and Wanghong Ping Finishing, only the South Asia Branch rose 0.96%.

The passive component group performance was resilient, and the index stocks Giant and Huaxinke showed a flat consolidation. Taiwan Jiashuo rose more than 5%, Kai Qin and Jingji rose 2% and 1% respectively; Jiajing and Hejing in the silicon wafer group And Sun Semiconductor also had a 1% increase.

The legal person pointed out that Taiwanese stocks are currently in a high-end shock consolidation, and electronic stocks are affected by uncertainties such as the delayed start of China’s construction and Apple ’s financial revision, which may put pressure on the relevant supply chain stock prices. Looking forward to next week, in addition to the MSCI weight adjustments, In addition to the settlement variables of the Taiwan Index, we must also be careful to prevent classes at schools at all levels across the country to face new challenges in epidemic prevention. It is estimated that Taiwan stocks will be arranged in intervals.

The Taipei stock market fell 38.74 points today to close at 11,686.35 points. The March Taiwan Futures Index closed at 11,664 points, down 49 points. Compared with the spot price, the inverse spread was 22.35 points.

The Taiwan Futures Exchange set the opening reference price for the index futures contract in the past 2 months, with March futures at 11,713 and April futures at 11,682.

Taiwan stocks ended the day 38.74 points lower at 11686.35 points and the turnover was NT $ 123.576 billion.

March Tai Chi futures closed at 11,664 points, down 49 points, and traded 139,943 points; April futures closed at 11,634 points, down 48 points, and traded at 12,41 points. The actual closing price is subject to the announcement of the Futures Exchange.

 

Reviewer overview

New Coronavirus is Strengthening of the US Dollar - /10

Summary

New coronavirus pneumonia spread across the globe, coupled with the strengthening of the US dollar, the US dollar index hit the 100 mark yesterday, and the currencies of the countries most affected by the epidemic, including the yen, the Korean won, and the Singapore dollar, fell sharply across the board.

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