Taiwan Index Futures Night Session Plummets; Institutions: TAIEX May Face Volatility and Consolidation

(CNA reporter Chang Chien-chung, Taipei, June 17) U.S. markets showed mixed results on June 16, with the Dow Jones Industrial Average hitting a new all-time high, while the Philadelphia Semiconductor Index—closely correlated with Taiwan stocks—plunged 805.4 points. Financial institutions noted that the Taiwan index futures night session fell 744 points, suggesting that the TAIEX may experience volatile consolidation today.

On June 16, U.S. markets were mixed. The Dow Jones Industrial Average rose 328.64 points (0.64%) to close at 51,999.67. The S&P 500 dropped 42.94 points (0.57%), and the Nasdaq Composite fell 307.6 points (1.15%). The Philadelphia Semiconductor Index declined sharply by 805.4 points (5.71%).

Taiwan's stock market rose 412.2 points on June 16, closing at its intraday high of 45,809.19. The three major institutional investors—foreign and mainland investors, investment trusts, and proprietary traders—collectively bought NT$58.273 billion worth of shares.

On the domestic and international industry front, the National Development Fund (NDF) has guided capital into national strategic industries through its thematic NT$10 billion investment program. It has cumulatively invested in over 500 companies, with total investments exceeding the NT$20 billion mark, reaching NT$21.6 billion. Investment areas include drones, aerospace applications, and artificial intelligence (AI).

Networking brand D-Link (D-Link Corp.) announced it recently secured Thailand’s national-level Green Power Project smart pole contract. The project uses customized routers as the communication core, with a total deployment scale of 100,000 smart poles.

The steel market has entered its traditional off-season, with rainy season dampening downstream demand. As a result, China Steel and single-rolling mill Chung Hung reduced prices for certain steel products in July, while bar steel producer Feng Hsing kept its latest pricing unchanged. China Steel cut prices for hot-rolled and cold-rolled products by NT$300 per metric ton in July. For the third quarter, reflecting rising raw material costs, prices will increase by NT$500 to NT$1,000 per metric ton.

China Paper Mill has been advancing its transformation in recent years, expanding into high-value material markets. Chairman Huang Kun-hsiung stated that over 10 years of R&D have gone into optoelectronic material products, which have now entered mass production and are expected to gradually contribute to operations. General Manager Chen Jui-ho noted that optical glass backing paper began small-scale trial production last year and is gradually ramping up shipments this year as customer certifications increase. It currently accounts for about 3% of revenue. (Edited by Lin Chia-hsien) 1150617

Stand with the facts. Your support is the force that protects press freedom.

Download the CNA 'First News' app to instantly access the latest updates.

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