Taiwan Stocks Retreat After Record High; NT Dollar Rises for 5th Day to 31.451

According to the Central News Agency, the Taiwan stock market hit a new record high on the 26th before facing heavy selling pressure, ending the day in negative territory. The New Taiwan Dollar maintained its upward momentum, closing at 31.451, up 1.9 cents, marking its fifth consecutive day of gains and a two-week high. Total turnover in the Taipei and Yuanta foreign exchange markets reached a massive 3.0565 billion USD. Driven by expectations of a US-Iran agreement and NVIDIA CEO Jensen Huang's visit for COMPUTEX, AI-related stocks pushed the index to a morning high of 44,097.63 points. However, profit-taking led to a volatility of over 700 points, with the index closing down 119.03 points at 43,525.37. Institutional investors were net buyers, totaling 47.394 billion NTD, with foreign investors buying for the fourth consecutive day. The Central Bank intervened to manage volatility. Analysts expect the NTD to trade between 31.3 and 31.7 this week.