Foreign investors sell NT$20.6 billion in Taiwan stocks, UMC hit hardest

Taiwan's stock market saw significant foreign sell-offs on Wednesday, with investors offloading NT$20.6 billion (approximately US$635 million) in shares. The market initially plunged over 650 points, impacted by a sharp decline in the U.S. Philadelphia Semiconductor Index. However, a recovery in the memory, optoelectronics, and financial sectors helped the index rebound to close up 68 points for the day.

UMC (United Microelectronics Corporation) was the hardest hit by foreign investors, who sold 45,460 shares. Despite this, the stock managed to close down only 0.71% at NT$140, with the support of investment trusts. Powerchip Semiconductor Manufacturing Corporation followed, with foreign investors selling 31,701 shares.

Other major stocks targeted by foreign selling included Macronix International, Innolux Corporation, Wistron Corporation, Compal Electronics, Nanya Technology, Walsin Technology, Mega Financial Holding, and Taiwan High Speed Rail. The memory sector, in particular, became a primary target for foreign divestment.

The article also briefly mentions Foxconn's electric vehicle and semiconductor exports to overseas markets as part of a warming Taiwan-Poland cooperation, though this appears to be a separate news item appended to the market report.