According to udn Money, Taiwan's stock market halted trading on July 10 due to Typhoon Bawi, and after the weekend break will reopen on July 13 1. CNA's report by reporter Chung Jung-feng, updated July 12 at 15:07, confirmed the same closure (E10, E14).
During the closure and weekend break, US markets moved higher. Per udn Money, the Dow Jones Industrial Average rose 0.55%, the S&P 500 climbed 1.24%, the Nasdaq gained 1.59%, and the PHLX Semiconductor Index (SOX) advanced 3.12% 2. CNA reported the identical figures 11.
| Index | Move during closure |
|---|---|
| Dow Jones Industrial Average | +0.55% |
| S&P 500 | +1.24% |
| Nasdaq | +1.59% |
| PHLX Semiconductor Index | +3.12% |
According to udn Money, in the July 9 after-hours session the TAIEX futures night session closed at 46,281 points, up 633 points, while the TSMC futures night session closed at 2,455 points, up 21 points 4.
ADR performance was mixed. Per udn Money, the TSMC American Depositary Receipt fell 0.65%, while the ASE Technology ADR rose 6.8% 3. The divergence sits alongside the SOX's 3.12% gain reported in the same coverage 2.
According to udn Money, on July 9 the Institutional Investors' net short position in TAIEX futures fell by 1,172 contracts to 6,798 contracts; within that, the Foreign Institutional Investors' net short eased by 538 contracts to 80,730 contracts 5.
On cash equities, udn Money reported the three institutional groups net sold NT$39.393 billion on July 9. Foreign and mainland Chinese investors sold NT$47.132 billion—a sixth consecutive session of net selling—dealers sold NT$7.671 billion, and only investment trusts were net buyers, purchasing NT$15.41 billion 6. CNA reported the same figures 12.
| Group | July 9 flow (NT$) |
|---|---|
| Three institutional groups (total) | Net sell 39.393bn |
| Foreign & mainland Chinese | Net sell 47.132bn |
| Dealers | Net sell 7.671bn |
| Investment trusts | Net buy 15.41bn |
According to udn Money, foreign media reported that US Central Command issued a statement saying the Islamic Revolutionary Guard Corps (IRGC) openly attacked a cargo ship passing through the Strait of Hormuz, and the US has launched its third round of airstrikes against Iran this week 7. CNA's report carried the identical account of the third-round airstrikes 13.
According to udn Money, this week Taiwan's market focuses on TSMC releasing its June revenue on July 13, TAIEX futures settlement on July 15, and the TSMC Investor Conference on July 16, with markets closely watching TSMC's advanced-process progress and its latest read on the AI industry outlook 8.
udn Money also noted that the newly appointed Federal Reserve Chair Kevin Warsh will attend a congressional hearing for the first time this week, with markets focused on the direction of interest rates 9.
The evidence sets up a tension. During Taiwan's closure, US indices rose and the SOX gained 3.12% (E2, E11), and the TAIEX futures night session was up 633 points 4—signals that could support a catch-up move. Yet Foreign Institutional Investors net sold NT$47.132 billion on July 9 for a sixth straight session (E6, E12), and their futures net short remained at 80,730 contracts despite easing 5. Layered on top is the US's third round of airstrikes on Iran this week (E7, E13). The same reports point to July 13 June revenue, July 15 futures settlement, and the July 16 TSMC Investor Conference as this week's focal points 8, alongside Fed Chair Kevin Warsh's first congressional hearing 9.
According to udn Money and CNA, the market halted trading for one day on July 10 due to Typhoon Bawi, reopening on July 13 (E1, E10).
Per udn Money, the TSMC ADR fell 0.65% while the ASE Technology ADR rose 6.8% (E3).
According to udn Money, TSMC releases June revenue on July 13, TAIEX futures settle on July 15, and the TSMC Investor Conference is held on July 16; Fed Chair Kevin Warsh also attends his first congressional hearing this week (E8, E9).
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