TAIPEI (TVBS News) — Taiwan stock market opened the week with a slight decline as the TAIEX fell by 36.01 points to 17,637.86 on Monday (Dec. 18).
Semiconducting giant Taiwan Semiconductor Manufacturing Company (TSMC) saw its shares drop by NT＄6 to NT＄579 upon market opening.
Despite the overall downturn, traditional industrial stocks showed resilience, particularly the steel sector which demonstrated a strong stance.
Both Hsin Kuang Steel and Sheng Yu Steel Co., Ltd saw their shares rise over 2% in early trading, while shares of China Steel Corporation climbed more than 1.8%, opening at NT＄26.95.
Analysts at Capital Securities Investment Service highlight that the incoming U.S. November Core Personal Consumption Expenditures (PCE) Price Index will be closely watched this week — the key inflation indicator for the Fed, if reported below expectations, could buoy the stock market further.
In addition, recent Exchange Traded Funds (ETFs) rebalancing with stock replacements will likely have significant impacts on individual stocks, warranting investors' attention.