Taiwan Stocks Drop 242 Points to 46,940
Foreign investors withdrew NT$38.3 billion as the TAIEX fell below the 47,000 mark. Rising oil prices and bond yields pressured the market.
The Taiwan Weighted Index closed at 46,940.49 on Thursday. This represents a drop of 242.87 points. The index lost the 47,000-point level. Trading volume contracted to NT$713.972 billion. This is equivalent to approximately $22.6 billion.
Foreign investors sold NT$38.334 billion worth of shares. This equals roughly $1.2 billion in net sales. International oil prices exceeded the $100 mark due to Middle East conflict. U.S. Treasury bond buybacks missed expectations. Long-term Treasury yields rose. These factors created a double negative pressure on the market.
Semiconductor Revenue Sets New Record
TSMC reported August revenue of NT$514.8 billion. This is approximately $16.3 billion. The figure marks a new monthly record. Revenue increased by 10.1% month-over-month. It rose by 53.3% year-over-year. The company broke through the NT$500 billion threshold for the first time.
TSMC shares closed down 0.61% at NT$2,450. The stock faced selling pressure before the earnings release. MediaTek posted its own record August revenue. MediaTek shares closed up 2.05% against the broader trend. Delta Electronics fell 6.69% after weak revenue momentum. Quanta Computer declined by 1.75%.
Passive Components Sector Leads Gains
The passive components sector showed the strongest performance. Murata Manufacturing is phasing out certain MLCC product lines. This move is expected to shift orders to Taiwanese firms. Prosperity Dielectrics hit the daily limit-up. Viking Tech also reached its limit-up. Yageo turned positive from earlier losses.
A total of 21 stocks hit limit-up on Thursday. This included Zhusheng Technology and Episil Technologies. Several other names also reached their daily caps. On the downside, HighVax fell more than 6%. Asia Electronic Materials dropped over 6%. LuxNet and Shinkong Synthetic Fibers also declined by more than 6%.
Institutional Flows Show Divergence
Three major institutional groups posted combined net selling of NT$48.747 billion. This amount is roughly $1.5 billion. Investment trusts bought NT$3.351 billion of shares. This equals approximately $106.2 million in net buying. Proprietary traders also participated in the selling. Financials were the only sector to gain, rising 0.34%.
Electronics stocks fell 0.60% on the day. Traditional industry stocks dropped 0.52%. Plastics sub-sectors rose 1.67%. Electronics distribution stocks gained 0.57%. Paper stocks increased by 0.53%. GN auto markets/bonds noted the defensive positioning in bonds. The market remains range-bound above the monthly moving average. Analysts advise monitoring external oil and bond variables.
