Though the Taipei Stock Exchange is closed for the Mid-Autumn Festival, investors are not taking the day off. Many are keeping a close watch on international developments. That includes a US Federal Reserve meeting that could conclude with a lowering of key interest rates. Analysts say chances of a cut stand at 60%. If implemented, Taiwan shares could rally to break past 22,000 points. Let’s hear from an analyst.

Voice of Edward Chen
First Capital Management
After the Mid-Autumn Festival, the main changes to Taiwan shares will be brought about by the decisions at the US Fed meeting. After the Mid-Autumn Festival, the Taiex will likely trend toward 22,000 points, and it may even surpass its 60-day moving average of 22,400 points. I think currently the trend is up.

Over the past year and a half the US Fed has raised interest rates by 5.25%, leading the US dollar to soar. The Fed is now set to start a rate-cutting cycle, which is expected to kick off with a 0.5% cut this week. The prospect has sent the US dollar weakening. Coupled with turmoil around the world, gold prices are skyrocketing again. On Monday, the international price of gold hit US$2,582 per ounce.

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