US Tech Stocks See Renewed Selloff, Taiwan Stocks Open Down Over 500 Points

(Central News Agency, reporter Zeng Renkai, Taipei, 10th) US tech stocks saw a renewed selloff. The Philadelphia Semiconductor Index plunged over 8% during Tuesday's trading session. Taiwan stock index futures followed suit in overnight trading, though losses narrowed by the close. Taiwan's stock market faced selling pressure at the open today, falling over 500 points in early trading. As of 9:05 AM, the Taiex index was down 280.46 points at 44,423.98 points. The over-the-counter (OTC) index, representing small and mid-cap stocks, also opened lower. Among the four major weighted stocks, TSMC fell by a maximum of NT$25 to NT$2,280; MediaTek fell by a maximum of NT$175 to NT$4,300; Delta Electronics fell by a maximum of NT$55 to NT$2,360; and Hon Hai Precision Industry fell by a maximum of NT$6.5 to NT$271. Analysts noted that there are no signs of a substantial weakening in AI fundamentals, and the current correction in Taiwan stocks is primarily a portfolio adjustment. The next key points to watch include the upcoming US May Consumer Price Index (CPI) and the FOMC meeting next week, which will be chaired for the first time by new Fed Chair Walsh. These events will be crucial in influencing market sentiment. (Editor: Pan Yijing) 1150610