Did Huang Renxun’s cheating lead to the collapse of Taiwan stocks? Tomorrow's opening may not be good, Taiwan index futures plunged more than 700 points in night trading

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.

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 Index futures opened low at night and then continued downward, falling more than 700 points at one point.

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.