Taiwan Stocks Suffer 8th Worst Day in History as Index Plunges 1,077 Points

Taiwan's stock market suffered its eighth-worst day on record, with a widespread decline affecting 1,613 listed companies. The main index plummeted by 1,077 points to close at 45,479.11, with a total trading volume of NT$1.16 trillion.

Despite a positive opening influenced by gains in U.S. tech stocks, the Taiwan Stock Exchange initially rose. However, investor sentiment shifted as the index approached the 47,000-point mark. Profit-taking led to a sharp downturn, with key sectors like memory chips, silicon intellectual property, and integrated circuit design experiencing significant losses. Even Taiwan Semiconductor Manufacturing Co. (TSMC), a market heavyweight, could not sustain its early gains and closed lower.

The market's volatility was stark, with the index experiencing a swing of 1,535 points from its intraday high. While buying interest emerged at lower levels, it wasn't enough to prevent the substantial overall loss. The top 10 stocks by trading value all ended in negative territory, highlighting the broad-based nature of the sell-off.

TSMC fell by NT$20 to NT$2,440, while Walsin Technology Corp. (Yageo) saw its shares drop to the daily limit, closing at NT$905. Other major decliners included Innolux, Nanya Technology, and MediaTek, underscoring the widespread pressure across the technology and manufacturing sectors.