The Taiwan stock market is poised for further declines as it opened lower on Monday, following a significant drop of 579.44 points or 1.39 percent on Friday, closing at 41,172.36. This downturn comes after a brief two-day winning streak, with the index now hovering just above the 41,170-point level. Global market sentiment is dampened by rising oil prices, uncertainty surrounding the Middle East conflict, and concerns over interest rate trajectories, which are expected to weigh heavily on Asian markets.
Sector performance on the TSE was mixed, with technology stocks showing weakness while financial shares provided some support. Notably, Largan Precision surged nearly 10 percent, while MediaTek and Delta Electronics faced substantial declines of 4.26 percent and 3.71 percent, respectively. The negative lead from Wall Street, where major indices fell sharply amid profit-taking and rising treasury yields, further compounds the bearish outlook for Taiwan’s market.
Market professionals should closely monitor the interplay between rising oil prices and interest rate expectations, as these factors could significantly influence trading strategies and sector allocations in the coming days.
Source: nasdaq.com