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🇹🇼 Taiwan /Economy & Trade

AUO Corp. Plummets as Major Investors Sell Off Shares Despite Broader Market Rally

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

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  • Taiwan stocks surged, led by TSMC, but investor favorite AUO Corp. plummeted after major institutional investors sold off shares.
  • AUO Corp. shares hit a new high before falling sharply, with foreign investors offloading over 163,000 shares.
  • The broader market saw significant gains, with foreign investors shifting from selling to buying, contributing to a substantial index increase.

Taiwan's stock market experienced a significant rally, with the main index climbing 893 points to close at 47,018, driven by semiconductor giant TSMC and other tech stocks. Foreign investors turned net buyers, injecting NT$32.376 billion into the market.

However, the day presented a stark contrast for AUO Corp., a popular stock with 640,000 shareholders. Despite its share price briefly hitting a new high of NT$34.45, a level not seen since 2021, the stock dramatically reversed course. Major institutional investors, including foreign entities, proprietary traders, and investment trusts, collectively sold off 171,700 shares.

Foreign investors were the primary sellers of AUO Corp., offloading 163,160 shares. This significant selling pressure led to a sharp decline of 6.27% in AUO's stock price, closing at NT$30.65 on a high trading volume of 728,500 shares. The article highlights how individual shareholders, referred to as 'leeks' in a financial idiom, were caught in the volatility as institutional players exited their positions.

DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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