{"id":63579,"date":"2026-06-22T21:38:15","date_gmt":"2026-06-23T01:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-update-taiwans-taiex-hits-record-high-as-china-weakens-yuan-midpoint\/63579\/"},"modified":"2026-06-22T21:38:15","modified_gmt":"2026-06-23T01:38:15","slug":"asian-markets-update-taiwans-taiex-hits-record-high-as-china-weakens-yuan-midpoint","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-update-taiwans-taiex-hits-record-high-as-china-weakens-yuan-midpoint\/63579\/","title":{"rendered":"Asian Markets Update: Taiwan\u2019s TAIEX Hits Record High as China Weakens Yuan Midpoint"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Taiwan\u2019s TAIEX index surged 0.9% to a historic record of 48,150.04 points<\/strong>, driven by continued momentum in the technology sector and AI-related demand.<\/li>\n<li><strong>The People\u2019s Bank of China (PBOC) weakened the yuan midpoint to 6.8171 per dollar<\/strong>, the lowest level since June 8, signaling a tolerance for currency depreciation amid economic headwinds.<\/li>\n<li><strong>China\u2019s most active coke futures dropped over 3%<\/strong> as supply concerns eased following the resumption of production at major domestic mines.<\/li>\n<li><strong>Japan&#39;s 5-year government bond yield edged up to 1.915%<\/strong>, reflecting persistent inflationary pressures and market expectations of further monetary tightening.<\/li>\n<li><strong>A fivefold increase in Japanese visa fees is set to take effect July 1<\/strong>, a move expected to disproportionately impact Chinese tourism and add friction to bilateral ties.<\/li>\n<\/ul>\n<h2>Taiwan Equities Reach Unprecedented Heights<\/h2>\n<p>The benchmark index in Taiwan climbed <strong>0.9%<\/strong> on Tuesday to reach a record level of <strong>48,150.04 points<\/strong>. This rally extends a period of significant growth for the Taiwan Stock Exchange (<a href=\"\/stock\/TWII\">TWII<\/a>), primarily fueled by global demand for semiconductor and artificial intelligence technologies. Heavyweights such as Taiwan Semiconductor Manufacturing Co. (<a href=\"\/stock\/TSM\">TSM<\/a>) continue to anchor the index&#39;s performance as investors remain bullish on the island&#39;s tech-heavy economy.<\/p>\n<p>In the credit markets, Taiwan\u2019s interbank overnight rate opened flat at <strong>0.805%<\/strong>, matching the previous session. The stability in lending rates suggests that liquidity remains ample despite the record-breaking activity in the equity markets.<\/p>\n<h2>PBOC Signals Yuan Weakness Amid Commodity Slump<\/h2>\n<p>The <strong>People\u2019s Bank of China (PBOC)<\/strong> set the yuan midpoint at <strong>6.8171 per dollar<\/strong> on Tuesday, marking a notable weakening from the previous closing level of <strong>6.7773<\/strong>. This fix represents the weakest level for the onshore currency since June 8. Analysts suggest the central bank is allowing for greater flexibility in the exchange rate to support exporters as the domestic economy faces cooling demand.<\/p>\n<p>Simultaneously, China\u2019s commodities market saw a sharp correction, with the most active <strong>coke futures contract dropping over 3%<\/strong> in Tuesday trading. The decline follows reports that approximately <strong>63%<\/strong> of coal mines in the Shanxi region have resumed operations after recent safety-related suspensions. Increased supply and rising imports have effectively eased the supply shortage fears that previously drove prices higher.<\/p>\n<h2>Japan Bond Yields Rise as Visa Fees Surge<\/h2>\n<p>Japan\u2019s <strong>5-year government bond yield<\/strong> edged higher by <strong>1 basis point to 1.915%<\/strong> on Tuesday. The move comes as investors continue to weigh the Bank of Japan&#39;s potential for further interest rate hikes against a backdrop of a depreciating yen and steady inflation. The yield remains near multi-year highs, reflecting a broader shift in Japan&#39;s long-standing low-interest-rate environment.<\/p>\n<p>On the diplomatic and economic front, a significant jump in Japan&#39;s visa fees is expected to hit Chinese tourists hardest. Starting July 1, fees for single-entry visas will quintuple to <strong>15,000 yen<\/strong>, while multiple-entry visas will rise to <strong>30,000 yen<\/strong>. According to reports from the <em>South China Morning Post<\/em>, this &quot;visa fee jump&quot; is likely to add further friction to the already tense ties between Beijing and Tokyo, potentially deterring price-sensitive travelers from China&#39;s mainland.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Taiwan\u2019s TAIEX index surged 0.9% to a historic record of 48,150.04 points, driven by continued momentum in the 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