The Taiwan stock market opened with a drop of 179 points, TSMC fell by 22 yuan and opened at 916 yuan
The Taiwan Stock Exchange Weighted Index opened at 20353.88 points today, down 179.11 points from yesterday's closing price of 20532.00 points. The OTC Index opened at 219.25 points. The blue chip stock TSMC opened at 916 yuan, down 22 yuan, while Foxconn opened at 142.5 yuan and bucked the trend in the early trading, reaching a high of 145.5 yuan.
U.S. stocks closed lower across the board on Monday, with all four major indexes showing a downward trend. The Dow Jones Industrial Average fell 98.60 points, or 0.24%, to close at 41,218.83. The S&P 500 fell 36.29 points, or 0.64%, to close at 5,650.38.
The Nasdaq Composite Index, which is dominated by technology stocks, fell 133.49 points, or 0.74%, to close at 17,844.24. Semiconductor stocks also performed weakly, with the Philadelphia Semiconductor Index falling 40.88 points, or 0.93%, to close at 4,356.18. In addition, NVIDIA and TSMC ADRs, which are highly correlated with the Taiwan stock market, fell 0.59% and 1.61% respectively.
Affected by the weakening of the U.S. stock market, the pre-market sentiment of the Taiwan stock market today was clearly bearish. The blue chip stock TSMC once hit the lower limit price of NT$845 during the trial trading phase; the Taiwan Index futures also fell by more than 200 points throughout the day before the opening of the Taiwan stock market, indicating that the overall market situation is under heavy pressure.
Affected by the exchange rate, the Taiwan stock market opened lower yesterday, with the weighted index closing down 254.65 points to 20,532.99 points, a drop of 1.23%. Prudential ETF manager Zhang Zhiling pointed out that the recent weakening of the US dollar has impacted the Taiwan stock market because Taiwan's export-oriented industries are affected by exchange rate fluctuations. Although many companies are seeking safety, it still puts pressure on the profit margins of AI-related IC design, wafer foundry, electronic components and consumer electronics. Financial stocks, mainly life insurance, are also facing the impact of asset exchange losses.