Reported about 1 year ago
On June 20, 2024, during evening trading, US tech stocks experienced profit-taking pressure, causing a lower opening for Taiwanese stocks. While major US indices mostly fell, with Nvidia dropping over 3.5%, resulting in the loss of its global market cap title, TSMC's simultaneous lower opening provided support as the midday losses converged. Despite the initial drop of 254 points to a low of 23151 points, TSMC's relative resilience helped ease the losses, closing with a 152.71-point drop at 23253.39 points. Despite a Dow Jones rise of 299.9 points, Nasdaq fell by 140.64 points, and the Philadelphia Semiconductor Index plummeted by 155.11 points. TSMC's ADR fell by 2.4% as its stock price dropped, but it maintained a market cap above 25 trillion NT$. With Hon Hai and MediaTek also declining, market analysts suggest observing maritime and power-related sectors and the new Taiwan 50 (0050) component stock changes for investment opportunities.
Source: YAHOO