Taiwan's currency was Asia's weakest on Wednesday as foreign money rushed out of the island's stock market, bad news for local investors but a warning sign for anyone watching Asian markets.

• Renewed fighting between the US and Iran pushed oil and the dollar higher, putting pressure on Asian currencies.
• Foreign investors sold more than NT$90 billion of Taiwanese stocks in a single day, and the main index dropped 784 points.
• The Taiwan dollar slid to around 31.73 per US dollar on record-heavy trading, with the central bank stepping in late to stop a bigger fall.
• The Japanese yen briefly broke past 160 to the dollar, then bounced back after the Bank of Japan hinted it may raise interest rates.
• The Korean won was the day's winner among Asian currencies, rebounding while Taiwan's fell.

Outlook: The Taiwan dollar is expected to test 31.8 again, and could head toward 32 if selling continues, with September meetings of the Fed and the Bank of Japan set to decide the next move.