Up 645 Points at Open to Retake 40,000
Taiwan stocks rebounded at the open on the 9th, with the weighted index opening at 40347.28 points, up 645.64 points from the previous close of 39701.64 points, a gain of about 1.63%, retaking 40,000 points. Judging by the open at 09時00分 today, the broader market stayed higher, showing buying returning after last Friday's plunge and sentiment stabilizing somewhat, though volume and the advance-decline split still need to be watched to confirm whether the rebound can continue.
Heavyweights Rise Together, Led by TSMC
Among heavyweights, TSMC 2330 opened up 75 yuan at 2210 yuan and is now up 65 yuan at 2200 yuan, still the main driver of the market. MediaTek 2454 rose 90 yuan to 3480 yuan, and Hon Hai 2317 rose 5 yuan to 229.5 yuan. The three heavyweights rose together, holding the index above 40,000 points, with the market next watching heavyweight performance 及成 and volume changes to see whether funds keep flowing back into large caps.
Policy Support Follows Last Week's Plunge
Looking back at last Friday the 6th, the weighted index opened at 38915.76 points, fell to an intraday low of 37837.05 points, and closed at 39701.64 points, down 1873.08 points, or 4.51%, with turnover 達新 NT$1兆 2461.04億元. The index was at one point down more than 3700 points intraday, a record intraday plunge, while TSMC also hit limit-down, under heavy selling pressure. Facing the sharp volatility, the National Stabilization Fund decided to intervene, and the FSC announced short-selling curbs effective from 11月9日, including lowering stock-borrowing sell quotas and raising margin requirements for short sales, aiming to ease selling pressure.
NVIDIA News Sways Market Sentiment
Separately, NVIDIA CEO Jensen Huang admitted to an extramarital affair and was caught up in a suspected foreign intelligence-linked controversy, with the NVIDIA board announcing an independent investigation. Hyperliquid perpetual futures contracts tracking NVIDIA shares had fallen about 2.9% at one point, showing the news still swayed some market sentiment. Judging by today's open in Taiwan stocks, however, there was no clear drag on the broader market yet. NVIDIA's board said there is currently no reason to believe U.S. national security or company secrets have been harmed, though the investigation's progress and whether Jensen Huang's operating role will be affected still bear watching.