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Wall Street and the Taiex take a beating ahead of anticipated US rate hike

Wall Street and the Taiex take a beating ahead of anticipated US rate hike

2022-09-16

Taiwan shares took a plunge following Wall Street’s decline on Thursday, amid concerns over an imminent major rate hike by the U.S. Fed. Shares from tech giants including TSMC, Hon Hai, MediaTek led the index down. And despite the launch of the new iPhone 14, Apple concept stocks did not perform well either. The Taiex closed down 108 points at 14,561 on turnover of NT$231.2 billion. Let’s hear from an analyst:

Lin Han-wei
Financial analyst
If you have stocks that tend to be big-cap stocks or ETFs, probably there will soon be fairly obvious corrective pressure. But if they are stocks from SMEs, you may have to take care, as they could change extremely rapidly. So when choosing shares, companies related to domestic demand and shares that are not closely connected to international stock markets are safer havens in the short term.

The new Taiwan dollar also tumbled on Friday, depreciating by 0.163 to close at NT$31.293 against the greenback. Experts believe that pressure created by capital outflows means that, in the short term, the Taiwan dollar won’t return to NT$30 against the U.S. dollar. They say NT$31 is the new normal rate, which could even dip to 32 against the U.S. dollar if the Fed makes a drastic move and hike the interest rate.

美股4大指數收黑 股匯雙殺收14561點

2022-09-16

美國聯準會利率決策會議下週登場,外界升4碼傳言不斷,導致美股4大指數全面收黑,台股再度被波及,台積電、鴻海、聯發科領跌,iPhone新機開賣,但蘋概股軟趴趴,沒有蜜月行情,大盤指數終場跌108點,收在14561點,成交值2312億。

[[分析師 林漢偉]]
“如果說手上是一些比較偏向大型的股票,或是ETF部分的話,可能最近還是會比較明顯修正賣壓,那如果以中小型股為主的話,可能就是最近要留意到,輪動速度會非常快,所以可能就是,在族群的選擇上面,盡量還是以這種內需題材,或說跟這個國際股市連動不深的股票,我覺得看起來會短線上資金避風港”

新台幣也摔慘,重貶1.63角,收在31.293元,專家認為,在資金匯出壓力仍大之下,短線不僅30元回不去、31元常態確立,美國如果強硬升息,不排除下探 32 元。

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