UMC Leads the Charge: Foreign Investment Fuels Stock Surge for 910,000 Shareholders

Taiwan's stock market navigated a turbulent session on Wednesday, with the index initially surging 358 points before succumbing to sharp sell-offs in Japanese and Korean markets. The market briefly flirted with the 45,000-point mark before a strong recovery, driven by semiconductor giants and financial stocks, propelled the index to close up 255 points.

Despite foreign investors continuing their selling spree, offloading NT$37.949 billion (approximately $1.17 billion), they demonstrated a significant commitment to UMC (United Microelectronics Corporation). UMC, which boasts 910,000 shareholders, saw foreign investors increase their buying to 23,000 shares, marking their fourth consecutive day of net purchases. This was complemented by domestic institutional investors, who shifted from selling to buying 1,929 shares.

The robust buying interest significantly boosted UMC's stock. Starting the day at NT$149, the share price climbed steadily, ultimately closing at NT$163, a substantial gain of 6.89%. The surge was accompanied by a notable increase in trading volume, with 83,000 shares changing hands. This performance highlights UMC's resilience and appeal to investors, even amidst broader market fluctuations.