Plastics and Financials Rally as Taiwan Stock Market Rebounds, Gains 68.2 Points

Central News Agency Report

(CNA reporter Chang Chien-chung, Taipei, June 17) Taiwan's stock futures settled today, with the market closing higher amid strength in plastics and financial stocks. The weighted index reversed from negative to positive territory, ending up 68.2 points at 45,877.39, with a turnover of NT$1.102051 trillion.

Most traditional industry stocks rose today. The plastics sub-index surged 6.5% after Nan Ya reached its daily trading limit, leading the gains. The paper and pulp index rose over 2%, while the machinery-electric and glass sub-indices each gained more than 1%. In contrast, the rubber sub-index dropped 6.69%, underperforming, and the shipping index fell over 2%.

Fubon Financial and Cathay Financial both closed higher, lifting the financial sub-index by 1.77%, a major contributor to the overall market advance.

In the electronics sector, TSMC opened lower and fluctuated throughout the session, hitting a session low of NT$2,350. However, losses narrowed by the close, ending at NT$2,385, down NT$15, with a market capitalization of NT$6.184 quadrillion, impacting the broader market by approximately 119 points.

Other major electronics stocks showed mixed results: MediaTek and Delta Electronics declined over 2%, while Hon Hai, Quanta, and Yageo closed higher. Overall, the electronics sub-index edged down 0.09%.

Senior analyst Wang Chao-li stated that market confidence is recovering, but capital momentum remains insufficient, resulting in a sector rotation pattern. He noted that the upcoming U.S. Federal Reserve interest rate decision meeting is a key focus for investors. (Edited by Chang Chun-mao) 1150617

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