The New Taiwan dollar rebounded from a three-year low yesterday as US stock gains bolstered demand for emerging-market assets. The local currency strengthened the most this month, rising in tandem with most of the region’s currencies. The Standard & Poor’s 500 Index climbed 4.4 percent on Wednesday on speculation that US President Barack Obama’s stimulus plan would include a US$50 billion-plus program to stem foreclosures and inject capital into banks....
photo: WN / Denise Yong
