Trump's AI Force Sparks Rally in Taiwan Markets
U.S. President Donald Trump's announcement of an 'AI Force' has sent shockwaves through global markets, particularly in Taiwan and Asia.
The move is seen as a signal that the administration will not impede AI development, contrary to earlier concerns from industry giants OpenAI and Anthropic.
Taiwan's stock market surged over 500 points on Monday, reaching a three-month high of 47,718.84, while the Taiwan dollar appreciated 5 cents against the U.S. dollar.
Foreign investors poured in nearly NT$90 billion (approximately $2.8 billion) worth of Taiwanese stocks last Friday, fueling the rally and driving up the currency's value.
The RMB also hit a multi-year high on Monday, with the onshore rate reaching 6.6957 against the dollar, while the offshore rate climbed to 6.693.