The stock exchange once turned red!

After the NTD depreciated below 31.9 yuan, it rose briefly and temporarily closed at 31.882 yuan at noon (photographed by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] Under the joint efforts of the Ministry of Finance and Finance to "protect the market", Taiwan stocks stood flat for a time. After the exchange rate of the New Taiwan dollar against the US dollar hit a five-and-a-half-year low of 31.909 yuan earlier in the morning, the decline began to converge. , but the pressure of remittance of funds is still heavy. After a short rise, it immediately turned down. It temporarily closed at 31.882 yuan at noon, a depreciation of 1.5 cents, and the transaction volume of Taipei Foreign Exchange Brokerage Company was 826 million US dollars.

The strong U.S. employment data has deepened the market’s expectation of violent interest rate hikes by the Federal Reserve. In addition, the U.S. has expanded its ban on Chinese chips, affecting Taiwan’s semiconductor industry, while Russia has launched a retaliatory “air strike”. The war between Ukraine and Russia has escalated. Continuing to fall, the dollar index rose above 113.5, challenging the previous high of 114.

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The decline of Taiwan stocks slowed down under the FSC's short-term limit order. Although the broader market index once fell below "Wansan", the King of Power TSMC even fell below the 400 yuan mark, but after 11 o'clock, the market index stood flat. , up to 13130.73 points, up more than 20 points, and currently oscillating around flat.

The exchange rate of the New Taiwan dollar also continued to be weak yesterday. It was opened at 31.87 yuan in early trading, with a minimum depreciation of 31.909 yuan and a low of 31.901 yuan before the depreciation. Just when the 32 yuan mark was in jeopardy, the central bank teamed up with exporters to enter the market and sell foreign exchange. The depreciation of the Taiwan dollar has largely converged, and it has once turned from depreciation to an increase, reaching a maximum of 31.858 yuan.

When the major Asian currencies fell one after another, central banks of various countries stabilized the exchange rate through different intervention actions. Among them, the Bank of Korea once again announced to raise interest rates by 2 yards in order to resist the strong dollar storm. The previous wave of intervention by the Bank of Japan was as low as 146.38 yen to the US dollar in early trading; under the shouting of the People's Bank of China, the offshore RMB fell as low as 7.1925 in early trading, and pulled back before the 7.2 yuan mark.

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