Taiwan Stocks Pull Back After Record High; NT Dollar Ends 6-Day Winning Streak

Central News Agency (Taipei, May 28) Renewed tensions between the US and Iran have triggered risk aversion in the market. Taiwan stocks, after hitting a record high, faced heavy selling pressure. The New Taiwan Dollar closed at 31.428 against the US dollar, a slight depreciation of 0.8 cents, ending a six-day winning streak. The total turnover in the Taipei and Yuanta foreign exchange markets was 2.502 billion USD. Following the news of the US-Iran conflict, Japanese and Korean stocks fell. Taiwan stocks hit a record high of 44,954 points in the morning before retreating, closing down 620.36 points at 43,636.44. Traders are now watching for the upcoming US PCE inflation data.