Fed Signals Dovish Stance Boosts TSMC and ASUS in Taiwan Stock Market, TAIEX Closes Up 293 Points at 23172 Points

Reported 12 months ago

Stock market image at the financial center on 3rd July 2024 at 2:13 AM. Following Nasdaq hitting a new high, heavyweight stocks like TSMC rose with TAIEX closing up 293.06 points at 23172.43 points driven by increased expectations of a rate cut after Federal Reserve Chairman Powell's remarks at the ECB annual meeting. Despite Nvidia's decline, TSMC led the bullish sentiment with hopes for continued growth in Q3 revenue. ASUS saw a rebound after ex-dividend, closing up 6.5 points at 479.5 points, with a 35% dividend yield.

Source: YAHOO

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