Latest from RobotFX: important news impacting currency trading.
The TAIEX, Taiwan’s benchmark stock index, fell 262 points, or 0.4%, to 40,911 around midday on Monday, extending its decline for a second consecutive session. The drop tracked weakness in U.S. futures amid rising tensions in the Middle East after U.S. President Donald Trump issued a warning to Iran, while investors also awaited Nvidia’s upcoming earnings report.
The broader market touched its lowest level since May 5, dragged down mainly by losses in electronic technology, financials, technology services, and health technology shares. The electronic technology sector slipped 0.8%, with Taiwan Semiconductor Manufacturing Company (TSMC) — which represents more than 40% of the market’s total capitalization — losing 1.6%, and Delta Electronics tumbling 3.4%.
Sentiment was further pressured by a series of weak economic data out of China, as markets looked ahead to the People’s Bank of China’s interest rate decision on Tuesday. Other notable decliners included ASE Technology Holding (-7.0%), Unimicron Technology (-2.2%), and Accton Technology (-1.1%).
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