Nvidia, Apple Supplier TSMC And Other US-Listed Taiwan Stocks Trading Lower In Pre-Market After Biden Quits Presidential Race
Portfolio Pulse from Pooja Rajkumari
Nvidia, Apple supplier TSMC, and other US-listed Taiwan stocks, including UMC and ASE Technology, are trading lower in the pre-market after President Joe Biden announced his withdrawal from the presidential race. TSMC shares dropped 1.25%, UMC fell 1.28%, and ASE Technology dipped 0.73%. The Taiex index also plummeted almost 700 points.
July 22, 2024 | 10:10 am
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NEGATIVE IMPACT
ASE Technology shares dipped 0.73% in the U.S. pre-market after Biden's withdrawal from the presidential race, reflecting investor caution.
ASE Technology's share price decline is part of a broader market reaction to the political uncertainty following Biden's withdrawal.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
TSMC shares dropped 1.25% in the U.S. pre-market following Biden's withdrawal from the presidential race, reflecting investor concerns.
TSMC's share price decline is directly linked to the political uncertainty caused by Biden's withdrawal, which has raised concerns among investors about the stability of U.S.-Taiwan relations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
UMC shares fell 1.28% in the U.S. pre-market after Biden's withdrawal from the presidential race, indicating market apprehension.
UMC's share price decline is a reaction to the broader market sentiment and political uncertainty following Biden's announcement.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80