Philadelphia Semiconductor Index Falls, Institutions Say Taiwan Stocks Face Battle to Defend 46,000 Points

(CNA) Taipei, July 3 - U.S. stocks were mixed on July 2, with the Dow Jones Industrial Average reaching a new high, while the Philadelphia Semiconductor Index, closely correlated with Taiwan's stock market, fell 727.06 points. Institutions stated that Taiwan stocks fell 274.83 points on July 2, closing at 46,744.16 points. The Taiwan Futures Exchange overnight index fell 938 points, and Taiwan stocks may face a battle to defend the 46,000-point level today.

As investors shifted funds from technology stocks to industrial stocks, U.S. stocks saw mixed results on July 2. The Dow Jones Industrial Average rose 594.83 points, a gain of 1.14%, closing at 52,900.07 points. The S&P 500 index rose slightly by 0.01 points. The Nasdaq Composite Index fell 207.36 points, a decline of 0.8%. The Philadelphia Semiconductor Index fell 727.06 points, a drop of 5.44%.

In domestic and international industry news, pneumatic component manufacturer Airtac-KY reported self-assessed June revenue of NT$3.912 billion, a new high for the same period. Second-quarter revenue was NT$12.164 billion, a quarterly increase of 21.5%, setting a new quarterly record. Airtac maintains an optimistic outlook on the demand for the pneumatic industry and the company's overall development this year.

Connector and cable manufacturer Sinbon reported self-assessed June revenue of NT$3.093 billion and second-quarter revenue of NT$9.063 billion, both historical highs. Sinbon stated that based on current customer demand schedules, orders continue to increase steadily, and third-quarter operations are expected to be better than the second quarter.

Precision parts and machinery processing manufacturer Yulong indicated that its U.S. factory investment plan will become clear by the end of this year. The company is planning products such as reducers required for humanoid robots. Yulong's revenue from its Universal Quick Connector (UQD) for AI server liquid cooling key components is expected to grow quarter by quarter this year, with UQD revenue aiming to account for 10% of total revenue this year. (Editor: Yang Lan-hsuan) 1150703

Stand with facts, your every contribution is a force to protect press freedom

Download the CNA "First News" APP for real-time updates

No unauthorized reproduction, public broadcast, public transmission, or use of the text, images, or videos on this website is permitted.