US Stocks Rise; Analysts: Taiwan Market to Watch US Interest Rate Policy This Week

(Central News Agency reporter Chang Chien-chung, Taipei, 14th) Major US stock indices rose across the board on the 12th, with the Philadelphia Semiconductor Index, which is highly correlated with Taiwan stocks, gaining 200.031 points. Financial institutions noted that the Taiwan stock index futures rose 487 points in overnight trading, which could support the performance of Taiwan's stock market on the 15th. The US interest rate policy will be the focal point for markets this week.

US stocks closed higher on the 12th, driven by expectations of a peace agreement between the US and Iran, which caused oil prices to plummet, and by SpaceX's Nasdaq listing, which marked the largest IPO in history.

The Dow Jones Industrial Average rose 353.51 points, or 0.7%; the S&P 500 gained 37.16 points, or 0.5%; the Nasdaq Composite increased by 79.18 points, or 0.31%; and the Philadelphia Semiconductor Index surged 200.031 points, or 1.52%.

Senior analyst Wang Chao-li stated that SpaceX rose 19% on its first trading day, closing at $160.95, with its market capitalization surpassing $2 trillion. This capital concentration negatively impacted other space-related stocks, with Virgin Galactic Holdings plunging over 30%.

Wang said he views SpaceX's listing performance neutrally, noting that only if its stock continues to rise can it potentially lift the share prices of its supply chain partners.

He added that the potential for a US-Iran memorandum to end hostilities has been a major driver behind the recent rallies in both US and Taiwan stocks. US President Trump announced on social media that a Middle East ceasefire agreement is scheduled to be signed on the 14th. However, Iranian state media, citing the foreign ministry, stated the agreement will not be signed on that date, contradicting Trump's claim. The future developments between the US and Iran will continue to influence the direction of both US and Taiwan markets.

Additionally, the Bank of Japan is set to hold its monetary policy meeting this week, and Kevin Warsh, the new chair of the US Federal Reserve, will preside over his first interest rate decision meeting. Wang pointed out that the Fed's interest rate policy and Warsh's remarks will be key market focal points.

Wang observed that Taiwan's stock market has recently been oscillating around its monthly moving average, suggesting a short-term battle to defend this level. If the index fills the downward gap from June 5, it would indicate strength; if it breaks below recent lows, the market would show weakness. (Edited by Chang Liang-chih, Lin Ko-lun) 1150614

Stand with the facts—your support is a force in defending press freedom.

Download the CNA 'First News' app to stay updated with the latest developments.

Text, images, and videos on this website may not be reproduced, broadcast, or transmitted without authorization.