Taiwan Stocks Soar Over 1200 Points; Investment Trusts Sell Nanya, TSMC

Taiwan's stock market experienced a significant rebound on Wednesday, with the main index climbing more than 1200 points to close above the 44,000 mark. The rally saw broad participation, with 1270 companies joining the upward trend, led by semiconductor giant TSMC.

Despite the overall market surge, investment trusts acted as net sellers, offloading substantial amounts of stock. Their top sell-off targets included Nanya, Hon Hai Precision Industry, and Taiwan Semiconductor Manufacturing Company (TSMC). Nanya was the most heavily sold stock by investment trusts, with 4181 shares disposed of.

Nanya's stock reflected this selling pressure, opening higher but then declining from 184 New Taiwan dollars to 172.5 dollars. However, support from domestic investors and retail traders helped the stock recover to close at 177 dollars, marking a 3.81% increase on a trading volume of 83,700 shares.

Other major stocks sold by investment trusts included Kinpo Electronics, Chunghwa Telecom, and financial institutions like CTBC Financial Holding and Fubon Financial Holding. The day's trading activity indicated a complex interplay between institutional selling and domestic buying interest in the Taiwanese market.