US stocks closed lower last Friday, and Taiwan Futures Contract Index (TX) opened higher by 6 points today on June contract, reaching 16,133 points. The financial sector opened lower, while the electronic sector opened higher. According to Yuanta Futures Co., Ltd., the TX gained 58 points to close at 16,127 points last Friday. In terms of price difference, the reverse spread of TX widened to -47.92 points, the reverse spread of the electronic sector expanded to -4.45 points, and the positive spread of the financial sector shrank to 3.14 points. In terms of spot trading, the three major institutional investors had a net buy of NT$38.191 billion.
In terms of net positions of futures, the three major institutional investors reduced their net long positions by 2,022 contracts to 12,930 contracts. Among them, foreign investors reduced their long positions and increased their short positions, reducing their net long positions by 889 contracts to 31,329 contracts. The specific institutional investors among the top ten traders increased their net long positions in the TX futures by 179 contracts to 23,576 contracts for the whole month.
Yuanta Futures Co., Ltd. stated that the Taiwan stock market rose for four consecutive days last Friday, with a weekly increase of more than 672 points. The short-term average and monthly line were in a bullish trend, and there was a gap-up on the bullish side on May 18th. Therefore, it is expected that the short position will remain unchanged before the gap is filled.
