Did Huang Renxun’s cheating lead to the collapse of Taiwan stocks? Tomorrow’s opening may not be good, Taiwan index futures fell 418 points in night trading
Quick Look
- Taiwan stocks rose 1,960 points at the end of the day on the 9th.
- However, Huida CEO Huang Jen-Hsun admitted that he had an extramarital affair and that the person involved in the affair was suspected of being involved in Chinese intelligence activities.
- This caused Huida's stock price to plummet in night trading, and the Taiwan index futures once fell by more than 700 points in night trading.
AI-generated summary
Why It Matters
Huida CEO Huang Renxun admitted on the 8th that he had an extramarital affair and that the person involved in the affair was suspected of engaging in intelligence activities for China.
Taiwan stocks rose 1,960 points today (9th) to close at 41,661 points. However, the rebound momentum during the day did not extend into the night session. The Taiwan Index futures opened lower in the night session today, and then the decline expanded. At one time, it fell more than 700 points during the session, which was suspected to be affected by the extramarital affair of Huida CEO Huang Renxun. As of 6:50 p.m., the Taiwan Index futures had consolidated its losses in overnight trading and fell by 418 points.
Taiwan stocks opened higher today and rebounded, rising 2,647.72 points during the session, setting the second largest intraday record in history. However, under the surge, rallies were released and the index rose. However, 1,536 stocks soared simultaneously at the end, rising 1,960.06 points, recording the second largest increase or decrease in closing history, closing at 41,661.7 points, with a trading volume of 837.9 billion yuan.
However, Huang Renxun, CEO of Huida, admitted on the 8th that he had an extramarital affair and that the person involved in the affair was suspected of engaging in intelligence activities for China. Suddenly caught in the impact of a personal scandal and the company launching an independent investigation, Huida's stock price opened low in night trading, once touching US$175.32, a plunge of US$11.32 or 6.06%, and the market value evaporated by US$272.812 billion (approximately NT$8.94 trillion).
Since Huida is an international company and has close cooperation with Taiwanese and overseas semiconductor companies, it is suspected to have been affected. The Taiwan stock index futures opened all the way down after opening at night, once falling by more than 700 points.
The Taiwan Index futures opened at 41,240.00 points today, and then the decline expanded. It once fell 744 points to 40,734.00 points. At about 3:59 pm Taipei time, the index fell 1.74% or 721 points to 40,757.00 points.
What to Watch
AI outlook — possibilities, not facts
Huida will continue to conduct independent investigations
Very likely · Within days
Open Questions
- What is the specific progress of the independent investigation?
- What substantial impact will the incident have on Huida's long-term operations?
