TAIPEI, March 24 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)