Trump Considers Cutting Tariffs on China, TSMC ADR Surges Over 4%
U.S. President Donald Trump is softening his stance on China, leading to a more optimistic sentiment in the financial markets. According to a report from The Wall Street Journal, the White House is considering reducing tariffs imposed on China, potentially by more than 'half'; however, Trump has yet to make a final decision. With the expectation of a de-escalation in the trade war, major U.S. stock indexes opened significantly higher.
As of 9:50 PM, TSMC ADR's stock price rose over 4%, reaching $158.15. This reflects a reduction in market uncertainties as Trump eases attacks on China and Federal Reserve Chair Jerome Powell. Ultimately, TSMC ADR increased by 4.46% to $158.15. Additionally, the Taiwan index futures rose by 165 points, a gain of 0.84%, closing at 19,723 points.
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