Taiwan stocks flat ahead of holidays; TSMC dips
TAIPEI, May 26 Taiwan stocks stayed flat on Friday in cautious trading ahead of a long weekend holiday, dampened by falls in tech heavyweights such as Taiwan Semiconductor Manufacturing Co (TSMC).
COPENHAGEN May 4 The Danish government may cut its 2017 borrowing requirement thanks to a larger-than-expected fiscal surplus in the first four months of the year, brokerage Nordea Markets said on Thursday.
The January-April public accounts showed a surplus of 27.4 billion Danish crowns ($4.03 billion), 18.4 billion better than the government's initial forecast.
For the whole of 2017, the government has predicted a deficit of 20.6 billion crowns.
"The improvement of the state economy could force the government to make cuts in the announced issuance of government bonds and T-bills," Nordea economist Jan Storup Nielsen said.
"The state seems to get much less deficit for 2017, maybe a surplus," he added.
In December, the central bank said it planned to issue bonds worth 65 billion Danish crowns in 2017 and 30 billion in treasury bills.
The smaller deficit came as the Danish economy performed better than expected, generating more tax revenues, and in the form of higher returns on pension savings, Nordea's Storup Nielsen said.
($1 = 6.8046 Danish crowns) (Reporting by Erik Matzen, editing by Terje Solsvik)
SHANGHAI, May 26 China's yuan extended gains against the U.S. dollar on Friday, hitting its strongest level in more than three months.
MEXICO CITY, May 25 A Mexican code of conduct for the foreign exchange market designed to prevent market manipulation like the use of privileged information and collusion will be ready in six months, Mexican central bank governor Agustin Carstens said on Thursday.