Investors of Taiwan’s assets may take heart from the latest twist in the presidential race, as a tie-up of opposition candidates raises the odds of a more China-friendly government taking post from 2024.

The benchmark Taiex Index rose Wednesday and the local dollar advanced as traders digested the announcement that opposition parties — the Kuomintang and Taiwan People’s Party — will put forward a united candidate. That came as a relief for some who’ve been worried about a potential deterioration in cross-strait relations should Vice President Lai Ching-te of the ruling Democratic Progressive Party — who has consistently led opinion polls — win.