Taipei, May 24 (CNA) The U.S. dollar fell against the Taiwan dollar Tuesday, shedding NT$0.079 to close at NT$28.930, reflecting the strength of other Asian currencies in the region, dealers said. Intervention of the local central bank in late trade to slow down the appreciation of the Taiwan dollar helped the U.S. unit recoup part of its earlier losses, they said. Turnover totaled US$907 billion during the trading session. The greenback opened at NT$29.010 and moved between NT$28.879 and NT$29.020 before the close. Dealers said Asian currencies staged a technical rebound from a slump against the U.S. dollar in the previous session as traders shifted from the European debt problems and turned their attention instead to strong economic fundamentals in the region. The technical rebound of Asian currencies prompted many traders to leave a weaker euro behind for the moment, they said. Bargain hunting in the local bourse to pick up large-cap high-tech and financial stocks led the inflow of foreign funds, which added downward pressure on the U.S. dollar against the Taiwan dollar during the trading session. The benchmark weighted index closed up 0.1 percent at 8,756.61 points, rebounding from a low of 8,673.38. The dealers said the central bank is expected to continue its efforts to cap the rise of the Taiwan dollar to protect the country's global competitiveness. Lingering concerns over the financial crisis in the eurozone is expected to keep driving market sentiment over the next few session, the dealers said.

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