Turnover totaled NT$250.848 billion (US$8.5 billion), with foreign institutional investors buying a net NT$3.83 billion of shares on the main board, Taiwan Stock Exchange data showed. “The 50 basis point rate hike at the May meeting had been widely anticipated by the markets worldwide. The transportation and steel sectors also rose 0.95 percent and 1.16 percent respectively, but the financial sector underperformed the TAIEX, closing down 1.02 percent. “Judging from today’s movement, I suggest investors to stay alert over the weakness in the financial sector. The interest rate hike leads had been largely reflected in financial stocks’ recent gains,” Lu said.

Source: Taipei Times May 05, 2022 20:32 UTC