Innolux Plummets as Foreign Investors Sell Off Millions of Shares Amidst Market Turmoil

Taiwan's stock market experienced a dramatic trading day on Thursday, marked by unprecedented volatility. The Taiex index initially soared to a record high of 44,954 points, fueled by TSMC's impressive stock performance, with the index climbing 698 points at its peak.

However, the market's trajectory sharply reversed following reports of Iran's attack on a US military base. This news sent shockwaves through the market, causing the Taiex to plunge by over 1,000 points from its high, resulting in a total daily fluctuation of 1,718 points – the second-largest swing in Taiwan's stock market history. The index ultimately closed below the 44,000 mark.

Foreign investors turned into net sellers, offloading NT$8.683 billion worth of stocks. Among the hardest hit was Innolux, a display panel manufacturer with a substantial shareholder base of 660,000. After reaching a high of NT$52.2, the stock was heavily targeted by foreign investors who sold over 280,000 shares. Proprietary traders also contributed to the sell-off, offloading more than 20,000 shares. Consequently, Innolux's stock price plummeted by 7.57%, closing at NT$46.4 with a trading volume of 1.2596 million shares.