Reported 5 months ago
On July 17, 2024, benefitting from rising oil and plastics prices and increased safe-haven investment, Nan Ya Plastics completed its earnings recovery process in less than two minutes, leading the sector in recovery speed and pushing its stock price back above NT$50. Despite a drop in the Taiwanese stock market due to foreign withdrawals influenced by Trump’s comments, the plastics sector saw a significant boost, with the plastics index rising by 3.47%. Nan Ya's stock surged to NT$50.9 before closing at NT$50.4, up 4.56%. Other industry leaders, such as Formosa Plastics, also saw gains, signaling a strong performance as they enter a traditional peak season for the petrochemical industry.
Source: YAHOO