Trump's Remarks Lead to a 312-Point Drop in Taiwan Stocks
The Taiwan stock market experienced a downturn in early trading, impacted by comments from U.S. President Trump, ultimately dropping 312.77 points to close at 18,793.43 points, a decline of 1.64%. The trading volume surged to 243.1 billion TWD, reflecting a bearish market sentiment.
Trump referred to Federal Reserve Chairman Powell as a "loser" and threatened that failure to cut rates could cripple the economy, causing all four major U.S. stock indices to decline sharply. Despite an early attempt for a rebound, Taiwan stocks succumbed to selling pressure. Key stocks like TSMC (2330) and Foxconn (2317) faced significant declines, exacerbating the market's downturn.
With an overall bearish atmosphere, some stocks like Porwei (3163) bucked the trend, rising 6.18%. Analysts suggest that, technically, the market is currently in a range-bound phase, recommending investors respond cautiously by reducing stock holdings and waiting for clearer signals.
