Fed Holds Rates Steady, In Line with Expectations
The U.S. Federal Open Market Committee on Wednesday voted 10 to 2 to keep the federal funds rate target range at 3.75% to 4%. The Federal Reserve had previously raised rates by 1碼 in September, the first rate hike since 2023, and this decision to stand pat was broadly in line with market expectations. According to the CME FedWatch Tool, rate futures trading before the meeting reflected a nearly 93% probability of rates remaining unchanged.
Chair Emphasizes Focus on Price Stability
Federal Reserve Chair 華許 said at the post-meeting press conference that even with this pause in rate hikes, the Federal Reserve remains focused on price stability, and described employment conditions as quite positive. He stressed that officials have made clear they are ready to act as conditions warrant and have shown willingness to take action, and markets will continue to watch subsequent policy moves and economic data performance.
Taiwan Stocks Open Lower, Heavyweights Under Pressure
Taipei stocks today on the 29th opened down 20.71 points at 47014.87 points, with losses later expanding to over 100 points. Heavyweight stocks were the focus of selling pressure at the open, with 台積電 opening down 5元 at 2420元, 聯發科 opening down 30元 at 4205元, and 台達電 opening down 25元 at 1525元. TAIFEX night session futures ended down 128 points or 0.27% at 47121 points, with 台積電 after-hours futures down 1元 or 0.04% at 2432元.
Small- and Mid-Caps Buck the Trend
As the broader market opened lower, small- and mid-cap stocks performed relatively strongly, with the OTC index opening up 1.79 points at 396.4 points. Today's strong stocks with large opening volume were 友達, 富喬, 力積電, 旺宏, and 東台, while weak stocks with large opening volume were 聯電, 台玻, 台積電, 南亞, and 台郡, with funds clearly rotating toward small- and mid-cap groups, becoming a bright spot supporting the market.
U.S. Stocks Close Higher, Led by Semiconductors
U.S. stocks strengthened again, led higher by semiconductor stocks, with all four major U.S. indexes higher and the Philadelphia Semiconductor Index up over 1%. The Dow Jones rose 97.53 points or 0.19% to 52475.10 points, the Nasdaq rose 72.04 points or 0.27% to 26549.85 points, the S&P 500 rose 21.38 points or 0.28% to 7743.98 points, and the Philadelphia Semiconductor Index rose 201.50 points or 1.76% to 11684.00 points. Among individual stocks, Oracle surged nearly 11% on its long-term revenue outlook, with investor focus turning to large-cap technology earnings.