Reported 7 months ago
Taiwan's stock market corrected slightly with a 0.3% drop on June 11, led by financial giants Fubon Financial Holding and Cathay Financial Holding, which saw a 0.07% increase by the end of the day, marking a fourth consecutive rise and a cumulative increase of 2.52%. Analysts believe that the positive May earnings reports of financial stocks, coupled with shareholder meetings, have positioned them as key support during a break in the tech stock rally. Fubon Financial and Cathay Financial topped the profit announcement charts during the Dragon Boat Festival, driving the sector's growth by 1.71% and 0.85% respectively. Technical indicators show bullish momentum, with expectations of breaching 2,000 points in the long run.
Source: YAHOO