TAIPEI (TVBS News) — The Taiwan Stock Exchange (TWSE, 台灣證券交易所) plunged Wednesday (July 23), dropping 352.64 points to close at 22,987.92, marking a sharp 1.51 percent decline. The dramatic reversal came despite the market reaching a new intraday high of 23,486.08 points earlier in the session, as mounting uncertainty over potential Taiwan-U.S. tariffs cast shadows over investor sentiment and triggered widespread selling across the island's equity markets.
Financial Supervisory Commission (金管會) Taiwan's financial regulator officials noted the market remains around the 23,000-point mark despite volatility. The commission requested the Taiwan Stock Exchange and Taipei Exchange (TPEx, 櫃買中心) to analyze potential tariff impacts on trading. Chang Chen-shan (張振山), Director-General of the FSC's Securities and Futures Bureau, acknowledged market concerns but emphasized that tariff rates remain unannounced and Taiwan's economic position should remain stable.
Regional markets showed mixed performance, with Shanghai rising 0.61 percent and Hong Kong gaining 0.37 percent. Singapore declined 0.14 percent, Japan fell 0.29 percent, and South Korea dropped 1.60 percent in broader regional weakness. Foreign investors demonstrated confidence by purchasing a net NT$10.024 billion (around US$341 million) in Taiwan stocks, while the market's price-earnings ratio stood at 17.78 times with a cash dividend yield of 2.96 percent by June's end. Domestic listed companies reported cumulative revenue of approximately NT$22.85 trillion (around US$778 billion) by June, marking a 13.75 percent year-over-year increase and setting a record high. ◼ (At time of reporting, US$1 equals approximately NT$29.37)