Taiwan’s consumer confidence index fell to 64.58 in July, down 0.47 points from a month earlier, with all six components weakening. The stock market subindex recorded the biggest drop, sliding 1.82 points to 28.08. The decline followed a record one-session selloff on July 17, when the Taiex sank 2,953.71 points, or 6.47%, amid concerns over an AI bubble, rising U.S. inflation and escalating Middle East tensions.

In Taipei trading on July 20, the U.S. dollar surged against the Taiwan dollar, breaking above NT$32.40 in early trade and reaching NT$32.421 at 10:30 a.m., up NT$0.133 on the day. The move followed foreign investors’ net sale of NT$189.0 billion of Taiwan stocks on Friday, when the Taiex sank 6.47% to 42671.27 and TSMC fell 7.29%. Continued foreign selling and faster dividend-related fund repatriation, alongside hawkish comments from Federal Reserve officials and rising tensions in the Middle East, added pressure on the Taiwan dollar. Some market participants expect USD/TWD could test NT$35.2 in the short term.

Taiwan’s health authorities have ordered a precautionary recall of processed foods containing at least 20% of soybean salad oil produced by Taichung-based Central Union Oil Corp. after tests found excessive levels of the carcinogen benzopyrene. Health Minister Shih Chungliang said the 20% threshold follows food safety recall guidelines established in 2017 and reaffirmed at an expert meeting on Saturday, according to the Central News Agency (CNA). The TFDA said affected products must be pulled from shelves by midnight July 6, while products with smaller amounts are exempt from recall but must be disclosed.