TWSE Sinks in Post-Holiday Trading

stock chart
copyright Ken Teegardin, www.SeniorLiving.Org

The Taiwan Stock Exchange index plunged more than 2% today to close at 8,536.22 as it followed the regional trend. Bearish sentiment flowed through the market as a recent poll showed the Brexit vote could be too close for the market’s liking. That was coupled with 10-year bond yields falling further and the Taiwan dollar falling 0.6% against the US dollar.

The terrorist attack on an Orlando night club and declining oil prices added to weak market sentiment across Asia. Meanwhile the market is still awaiting the US Federal Reserve’s decision on interest rates this summer.

Among tech stocks, Intoera Memories plunged 9.86% today while Hon Hai Precision fell 3.32% and Kinsus Interconnect Technology declined 3.82%. Financial stocks fared slightly better with most declining slightly; however, CTBC Financial Holding fell 4.94% and Shin Kong Financial Holding dropped 3.23%. Textiles were mixed with Eclat declining 3.78% and Nien Hsing Textile rising 2.06% on the day.

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