Taiex Closes Below 40,000 Points As Weak Momentum Continues
Taiwan's benchmark Taiex slightly recovered during Thursday early trading before ending below 40,000 points. The morning gain was supported by major tech stocks including UMC and EMC following strong second-quarter earnings reports. However, investor concerns over rising AI-related capital spending and growing competition from China continue to weigh on market sentiment. Taiwan’s Financial Stabilization Fund says it is monitoring the markets and will step in only under extreme conditions.
Taiwan Stocks Fluctuate
REPORTER:
Taiwan's stock market has fallen below 40,000 points after a brief rebound in early trading on Thursday.
Taiwan’s benchmark index, the TAIEX, closed down 0.26%. The stock market has been dropping throughout this week as investors became cautious over expanding capital expenditure of global AI giants, and increased competition from China. The country’s Financial Stabilization Fund says it only intervenes in extreme circumstances, but it is monitoring domestic and international markets in case action is needed.
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TAIEX Rebounds in Early Trading
REPORTER:
Taiwan stock market rebounds after falling below 40,000 points during Thursday early trading.
TAIEX's bounce back is driven by gains in tech giants, including UMC and EMC, after they reported strong second-quarter results.
