Reported about 1 year ago
Unified Futures provides, compiled by Huang Yan-Hong on June 13, 2024, at 4:10 pm American time. The May CPI in the United States was unexpectedly lower than market expectations, driving TAIEX Futures to another all-time high, reaching a peak of 22,473 points during the day and closing up 277 points at 22,323 points. Looking at institutional funds, the total net buying of the three major institutional investors in the spot market was NT$33.74 billion, with foreign investors net buying NT$32.3 billion, supporting the continued rise of the index. Examination of options flow showed that foreign investors positioned 101 million yuan on the long side, while proprietary traders positioned 139 million yuan on the short side. Foreign investors significantly added to long positions, but proprietary traders closed out significant long positions at high levels, resulting in a net long position decrease to 5.8 million yuan, with different views from the two main players. In terms of futures, foreign investors added 546 short positions in the night session and 2,896 short positions in the day session, increasing the net open short positions to 15,016 contracts; the top ten specific institutional investors added 1,719 short positions to 7,950 positions. Despite the index hitting a new high again, foreign investors did not cover short positions, instead adding significant short positions at higher levels, showing a clear hedging intent. The top ten specific institutions also added short positions at higher levels, keeping the overall futures sentiment bearish. The lower-than-expected US inflation data ignited a strong rise in US tech stocks, prompting market participants to actively buy Taiwan electronic stocks, driving TAIEX Futures to a new all-time high. Despite main players in futures maintaining a bearish stance and option leaders showing a mixed stance between foreign and domestic investors, with the three major institutional investors actively buying in the spot market and uncertainty regarding the overall US economic factors temporarily eliminated, TAIEX Futures are expected to continue rising.
Source: YAHOO