Published at 03:10 (GMT) 31 Aug
Taipei Times: State-run oil refiner CPC Corp, Taiwan (CPC) yesterday said it would reduce its gasoline prices by NT$0.7 per liter and diesel prices by NT$0.8 per liter from today as global crude oil prices plunged in the past week. The prices of CPC's oil products mark the lowest prices in the past seven months after the latest adjustments, the data showed. International crude oil prices changed drastically in the past week, CPC said in a statement, adding that the prices fell heavily early last week as the market lost confidence amid worries about China's slow economic growth.
On FX, USD/TWD 1M NDFs inched towards 32.500 and traded around 32.450 while spot opened higher above 32.500 and traded around 32.460 at last sight. With one month NDFs lower than onshore spot, it would represent a buying opportunity for the former. Still, USD/TWD is expected to drift lower towards 32.400 following USD/CNY movement. TAIEX down by over 0.30% at last check. YF
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