OPEC+ Production Increase Impacts Oil Market; Formosa Plastics Faces Short-Term Pressure

[FTNN News Network] Reporter Hong Tsung-Chuan / Taipei Report - This week (04/21–04/25), Taiwan's weighted index surged by 477.7 points, closing at 19872.73 points, with a 2.46% increase. According to the post-trading data from the stock exchange, the three major institutional investors collectively bought over NT$255.92 billion, with investment trusts alone purchasing NT$110.62 billion.
Among financial stocks, CTBC Financial Holding (2891) topped the sell-off list with a net sell of 26,619 shares, followed by Formosa Plastics (1301) and ChipMOS Technologies (3035) with net sells of 12,792 and 11,908 shares, respectively.
According to FactSet’s latest survey on the 21st, ten analysts have raised their EPS forecast for Formosa Plastics to NT$0.5, with a target price set at NT$39. However, following news that OPEC+ is considering accelerating production in June, international crude oil futures prices have been affected, resulting in fluctuations. Analysts expect that oil prices will experience significant volatility in the short term, which has also impacted plastic product demand, leading Formosa Plastics to see a weekly decline of 3.81%, closing at NT$34.1.
The top ten stocks with the largest net sales by investment trust this week included three electronics stocks, three traditional industry stocks, and four financial stocks. Notably, CTBC Financial Holding held first place with net sales of 26,619 shares; Formosa Plastics was second with 12,792 shares sold; and ChipMOS was third with 11,908 shares sold. Other significant sellers included Yongfeng Financial (2890) with 9,855 shares sold; King Yuan Electronics (2809) with 9,326 shares sold; and more.
◎《FTNN News Network》advises investors that this information is for reference only, and investors should make independent judgments, carefully assess, and assume investment risks.