Taiwan Stocks Stage Dramatic Recovery to Close Up 214 Points

Taiwan's stock market experienced a turbulent trading session on Thursday, August 20, ultimately closing with a gain of 214.39 points. The index saw significant swings, initially rallying strongly, then dipping into negative territory, before a late surge, led by memory chip manufacturers and a late push from TSMC, secured the positive close.

The session began with a strong upward trend, with the index opening higher and climbing as much as 441 points, boosted by electronic sectors like memory, ABF substrates, chip design, and optics, along with support from traditional industries. However, selling pressure emerged in AI, low-orbit satellite, and IC design stocks, coupled with a decline in financial shares, causing the index to reverse and fall by 273 points.

Despite the mid-session downturn, memory chip stocks provided crucial support, and a late rally in TSMC helped the index recover. Nanya Technology saw a significant increase, closing at 517 yuan with a trading volume of 44.26 billion yuan, making it the top traded stock. MediaTek and TSMC followed, with trading volumes of 41.73 billion and 35.65 billion yuan, respectively. Other notable stocks included Powerchip Semiconductor Manufacturing Corporation, which rose 8.5 yuan to 176.5 yuan, and Walsin Technology, which fell 14 yuan to 562 yuan.