Taiwan Stocks Hit New Highs, Then Turn Negative Amid Volatility

TAIPEI, June 23 (CNA) -- Taiwan's stock market opened higher today but later turned volatile and declined. Although the market briefly hit a new historical high of 48218.87 points in early trading, selling pressure emerged at the high, causing the index to reverse from gains to losses. It fell to a low of 47310.75 points intraday, down over 400 points. TSMC, the bellwether stock, reached a new intraday historical high of NT$2535.

As of 10:05 AM, the TAIEX stood at 47633.14 points, down 108.37 points or 0.23%, with a turnover of NT$779.374 billion, maintaining high trading volume.

Among other major component stocks, Hon Hai was down NT$5.5 to NT$263, MediaTek was up NT$190 to NT$4655, Delta Electronics was down NT$40 to NT$2110, and UMC briefly hit the daily limit of NT$176 before pulling back to NT$170.5 intraday.

The electronic sector index rose 0.69%, the financial sector index gained 1.2%, while the OTC index, representing small and mid-cap stocks, fell 1.5%.

IC design stocks performed well today, with Hong-Chuan, Kai-Yu, Angell, and Artil-KY hitting their daily upper limits.

Senior securities analyst Chien Po-yi stated that after reaching a historical high, the Taiwan stock market is experiencing a pullback today. Stocks that have seen significant gains recently are generally facing selling pressure, and the pressure for high-level volatility is increasing. However, looking at the market, the current pattern of healthy rotation is being maintained. (Edited by Chang Chun-mao) 0623

Stand with facts, your every sponsorship is a force to protect the freedom of the press

Download the CNA "One-Stop News" APP for real-time updates

The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or used without authorization.