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Fubon Financial says to raise position in currency hedging
March 24, 2017 / 7:25 AM / 9 months ago

Fubon Financial says to raise position in currency hedging

TAIPEI, March 24 (Reuters) - Fubon Financial Holding Co , parent of Taiwan’s second-biggest life insurer, said on Friday it will raise its currency hedging positions due to massive foreign fund inflows to Asia, including Taiwan.

Fubon and other local rivals, which invest heavily in overseas markets, have been hit by the stronger Taiwan dollar , which has strengthened about 6 percent so far this year against the U.S. dollar.

Taiwan’s central bank said after its quarterly rate meeting that large, frequent foreign fund flows into and out of Taiwan have affected local forex and financial markets. (Reporting by Faith Hung; Editing by Jacqueline Wong)

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