Core Viewpoint - The New Taiwan Dollar (NTD) has depreciated significantly against the US dollar, becoming the worst-performing major currency globally over the past month, primarily due to a massive outflow of funds triggered by a sell-off in technology stocks [1][3]. Group 1: Currency Performance - The NTD has fallen for six consecutive trading days, dropping nearly 0.6% to 30.48 NTD per USD, marking its weakest level since May of this year [1]. - The cumulative decline of the NTD over the past month stands at 3.5% [1]. Group 2: Market Dynamics - On Wednesday, global investors sold off Taiwanese stocks worth $2.38 billion in a single day, marking the largest net outflow in approximately 11 months [3][4]. - The sell-off in the Taiwanese market is closely linked to the downturn in US technology stocks, leading to heightened risk aversion among investors [4]. Group 3: Structural Factors - Analysts suggest that the recent weakness of the NTD is also a result of market adjustments from previous distortions caused by heavy dollar hedging activities [3][4]. - According to Wee Khoon Chong, a senior strategist at BNY Mellon, the market is correcting itself from these distortions, contributing to the NTD's depreciation [4].