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PACIFIC WATCH

Taiwan

December 28, 1992|From Times Staff and Wire Reports

Nation to Buy More U.S. Treasuries: Cash-rich Taiwan, one of the world's biggest foreign buyers of U.S. Treasury notes and bonds in 1992, expects to continue to add to holdings into early 1993, its top banker told Bloomberg Business News. Central Bank governor Samuel Shieh said in an interview that low interest rates on U.S.-dollar deposits have pressed the bank to move its U.S.-dollar holdings into higher-yielding Treasury notes and bonds. The Asian Wall Street Journal reported in July that Taiwan replaced Japan as the largest buyer of U.S. Treasury notes and bonds in the first quarter of 1992, buying $5.1 billion in the three-month period versus $10.06 billion for all of 1991.

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