Nanya ranks only second! Foreign investors' top sell-off target is 'this', 270,000 shareholders heartbroken

Taiwan's stock market experienced a significant downturn on Monday, with the index closing down 461 points and falling below the 45,000 mark. The market lost its quarterly moving average as foreign investors shifted to selling, offloading NT$15.75 billion in stocks.

Nanya Technology emerged as the biggest victim of foreign selling, with investors offloading 28,429 shares. This marks the sixth consecutive day of selling for Nanya Technology, and the increased volume on Monday led to a sharp 6.25% drop in its stock price, closing at NT$180. The company's stock decline has caused distress for its more than 270,000 shareholders.

Other major stocks heavily sold by foreign investors included Innolux, Formosa Plastics, Formosa Petrochemical, and Formosa Chemicals. The broader market's decline occurred despite initial gains driven by the electronics and financial sectors, as selling pressure emerged across these sectors later in the day.