Taiwan Stocks Fall 105 Points After Wild Session

Taiwan's stock market saw a dramatic session on Thursday, ultimately closing down 105.88 points at 39,933.3 points. The day was marked by extreme volatility, with the index swinging wildly before settling lower.

The market opened higher, buoyed by an initial rise in United Microelectronics Corporation (UMC). However, significant selling pressure emerged in sectors like memory chips (Nanya Technology, Powerchip Semiconductor Manufacturing), silicon wafers (GlobalWafers), and passive components (Yageo). This led to a sharp decline, with the index plummeting 635 points to test 39,404 points.

As the day progressed, bargain hunters entered the market. Taiwan Semiconductor Manufacturing Company (TSMC) turned positive, rising NT$60, and UMC hit its upper limit. Other major tech stocks, including Powerchip, MediaTek, Xinxing, and Innolux, also saw significant gains, driving the index up by 1,751 points to a high of 41,155 points.

However, the rally was short-lived. Following the rapid surge, selling pressure resurfaced, particularly in electronic stocks. The index gradually pulled back as TSMC's gains moderated, and UMC, Taiflex Scientific, and Xinxing saw their upper limits broken. The market closed with a net loss, reflecting the intense trading activity and profit-taking.

Top traded stocks by value included TSMC, which rose NT$5 to NT$2,205, and Yageo, which closed down by its limit at NT$456.5. MediaTek gained NT$85 to NT$3,235, while UMC rose NT$7.5 to NT$110. Nanya Technology fell NT$25.5 to NT$328.