The Taiwan stock market has finished lower in three straight sessions, sinking more than 670 points or 2.5 percent along the way. The Taiwan Stock Exchange now sits just above the 27,525-point plateau and it’s expected to see continued selling pressure on Thursday.
The global forecast for the Asian markets is negative on continuing concerns over the viability of the technology companies. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.
The TSE finished slightly lower on Wednesday following losses from the plastics, gains from the financials and a mixed picture from the technology stocks.
For the day, the index eased 11.49 points or 0.04 percent to finish at 27,525.17 after trading between 27,469.60 and 27,780.69.
Among the actives, Cathay Financial soared 4.27 percent, while First Financial collected 1.21 percent, Fubon Financial vaulted 1.35 percent, E Sun Financial jumped 1.67 percent, Taiwan Semiconductor Manufacturing Company lost 0.35 percent, United Microelectronics Corporation spiked 2.44 percent, Hon Hai Precision sank 0.69 percent, Largan Precision improved 0.74 percent, Catcher Technology rallied 2.14 percent, MediaTek rose 0.35 percent, Delta Electronics slumped 1.22 percent, Novatek Microelectronics added 0.67 percent, Formosa Plastics shed 0.62 percent, Nan Ya Plastics retreated 1.37 percent, Asia Cement skidded 1.09 percent and Mega Financial and CTBC Financial were unchanged.
The lead from Wall Street is weak as the major averages opened mixed but quickly headed south and spent the balance of the day under water.
The Dow dropped 228.29 points or 0.47 percent to finish at 47,885.97, while the NASDAQ plunged 418.14 points or 1.81 percent to close at 22,693.32 and the S&P 500 sank 78.83 points or 1.16 percent to end at 6,721.43.
The sharp pullback seen as the day progressed came amid renewed weakness among technology stocks, as reflected by the steep drop by the tech-heavy NASDAQ.
Semiconductor stocks turned in some of the market’s worst performances on the day, resulting in a 3.8 percent plunge by the Philadelphia Semiconductor Index. Computer hardware stocks and networking stocks also slumped.
On the other hand, energy stocks turned in a strong performance as the price of crude oil rebounds from its lowest levels since early 2021.
The rebound by the price of crude oil comes after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers in Venezuela. West Texas Intermediate crude for January delivery was up $0.70 or 1.3 percent to end at $55.97 per barrel.
Closer to home, the central bank in Taiwan will wrap up its monetary policy meeting later today and announce its decision in interest rates; the bank is expected to keep its benchmark lending rate steady at 2.00 percent.
Market Analysis
Taiwan Shares May Take Further Damage On Thursday
2025-12-18 00:30:52
