Story
Taiwan Weighted Index Ends Nearly Flat, Down 0.05% on Sector Drag
Summary
Taiwan's benchmark stock index closed Tuesday's session with a marginal loss of 0.05%, as weakness in the energy and plastics sectors weighed on the broader market.
Taiwan's stock market ended Tuesday's session nearly unchanged, with the benchmark Taiwan Weighted index closing down a marginal 0.05%. The slight decline was primarily driven by weakness in the energy and plastics sectors, according to data reported by Investing.com.
Sector Performance and Stock Movers
The mixed performance saw specific sectors, including Oil, Gas & Electricity and Plastics, lead the market lower. Despite the flat close for the broader index, several individual stocks experienced significant price swings.
Key performers on the Taiwan Weighted included:
- Lung Ming Green Energy Technology Engineering (TW:3018): rose 10.00% to close at 14.30.
- Tonlin Department Store (TW:2910): added 9.98% to end at 25.90.
- D-Link Corp (TW:2332): gained 9.95% to finish at 24.30.
On the other end of the spectrum, the worst-performing stocks for the session were:
Ad- Taiflex Scientific (TW:8039): fell 10.00% to trade at 216.00.
- Excel Cell Electronic (TW:2483): declined 9.96% to 36.15.
- Taiwan Styrene Monomer (TW:1310): dropped 9.94% to 8.97.
Broader Market Context
The slight downturn in Taiwanese equities occurred alongside a drop in global energy prices, a factor that likely impacted the local energy sector. September crude oil futures were down 0.56% to $82.15 a barrel, while October Brent crude fell 0.63% to $85.33 a barrel during the session.
In foreign exchange markets, the New Taiwan dollar weakened against its U.S. counterpart. The USD/TWD currency pair rose 0.42% to 32.43. Meanwhile, precious metals also saw declines, with the August Gold Futures contract falling 0.78%.
Read next
More on Stocks
River Cruise Industry Can Adapt to Climate Change Risks, Bernstein Says
Bernstein analysts report that while European river cruises face more frequent disruptions from low water levels due to climate change, the industry has sufficient adaptation strategies to ensure its long-term viability.
Aramco Reportedly Explores Standalone Gas Unit With Potential $100 Billion Valuation
Saudi Aramco is reportedly considering a major restructuring to create a standalone natural gas division, which could be valued at over $100 billion and potentially be listed or sold to new investors.
Apple Ordered to Pay Record $5.7 Billion in Haptic Patent Case, Plans to Appeal
A U.S. jury found Apple's Taptic Engine infringed on two patents held by Taction, ordering a landmark $5.7 billion payment. The tech giant has stated it will appeal the verdict.
Northern Star Rejects Takeover Overture From Gold Fields, Bloomberg Reports
South Africa's Gold Fields Ltd. recently approached Australia's Northern Star Resources about a potential acquisition, but the offer was rejected, according to a report. The move comes as Northern Star faces pressure from an activist investor and deals with operational challenges.