TAIEX Trades at 4-Week Low as Tech Weighs

The TAIEX, Taiwan’s benchmark stock index, advanced 860 points, or 1.9%, to 47,153 in Wednesday morning trade, erasing losses from the previous two sessions and tracking gains on Wall Street overnight amid easing Treasury yields and oil prices. The broader index moved away from its lowest level since September 17, touched a day earlier, mainly boosted by gains in electronic technology and finance. Electronic technology rebounded, rising 1.5% after falling 1.0% in the previous session due to concerns over AI investment. Moderating oil prices lifted sentiment, easing concerns about inflation risks and interest rate hikes. TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, recovered, rising 1.0%. Meanwhile, MediaTek, Delta Electronics, and Hon Hai Precision gained 2.2%, 2.8%, and 2.5%, respectively. The financial sector rebounded, climbing 1.1%, mainly supported by gains from Fubon Financial (0.7%) and Cathay Financial (2.5%).

The TAIEX, Taiwan’s benchmark stock index, fell 529 points, or 1.1%, to close at 46,293 on Tuesday, extending losses from the previous session and remaining at its lowest level since September 17. The broader index tracked declines among Asian market peers amid ongoing concerns over AI investment. Rising oil prices also pressured sentiment, raising concerns about inflation risks and interest rate hikes. Traders shrugged off an upbeat session on Wall Street overnight as the tech selloff eased. Most sectors traded in the red, including electronic technology, which fell 1.0% following a 0.5% drop in the previous session. TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, continued to decline, losing 0.6%. Meanwhile, MediaTek fell 1.3%, Delta Electronics dropped 2.1%, and ASE Technology shed 1.5%. The financial sector plunged 2.3%, mainly weighed down by Fubon Financial Holding (-3.2%) and Cathay Financial Holdings (-3.9%).

The TAIEX, Taiwan’s benchmark stock index, dropped 289 points, or 0.6%, to close at 46,822 on Monday, erasing gains from the previous session and touching its lowest level since September 17. The decline tracked losses on Wall Street on Friday amid a tech sell-off and concerns over AI-related investment. Most sectors traded in the red, including electronic technology, which dropped 0.5% after gaining 0.2% on Friday. TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, continued to decline, losing 1.0% following a 0.2% drop in the previous session. Meanwhile, MediaTek shed 1.3%, Hon Hai Precision lost 2.1%, and ASE Technology dropped 1.5%. The financial sector fell 0.9%, mainly weighed down by Fubon Financial Holding (-1.9%) and Cathay Financial Holdings (-2.2%). However, moderating oil prices, easing expectations of Fed rate hikes, and strong Chinese data, with Q3 GDP growth beating estimates, helped limit the decline.