Nanya Technology battered by heavy selling as three major institutional investors unload shares
Translated from Chinese and summarized by DistantNews. Read the original for the full story.
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Outcome reported
- Taiwan’s Taiex reversed an early 353-point gain and closed down 307 points at 45,857.66 as several technology stocks fell sharply.
- Nanya Technology dropped 7.82% to 477.5 Taiwan dollars after foreign investors, investment trusts and dealers sold a combined 39,300 lots.
- Foreign investors sold 34,399 lots of Nanya Technology, the largest volume among their 10 biggest-selling stocks that day.
Nanya Technology became the biggest casualty of a broad technology sell-off on Taiwan’s stock market, with its shares falling 7.82% after heavy selling by all three major institutional investor groups.
The Taiex initially rose 353 points on Thursday, but reversed course as electronic stocks, including ABF substrate and optoelectronics companies, came under pressure. The index ended 307 points lower at 45,857.66. Foreign investors continued to sell, recording net sales of NT$481.46 billion.
Nanya Technology, which has about 300,000 shareholders, saw its share price fall from NT$539 to NT$477.5. Trading volume surged to 123,800 lots. Foreign investors sold 34,399 lots, while investment trusts and dealers also joined the selling, bringing the three groups’ combined net sales to 39,300 lots.
Other stocks among foreign investors’ 10 largest sales included Winbond Electronics, Taiwan Business Bank, PSMC, Macronix International, Zhen Ding Tech, Chunghwa Picture Tubes, King Yuan Electronics, Formosa Petrochemical and Lite-On Technology.
About this summary
Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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