Benchmark plunges 667 points, institutions sell NT$81.6 billion
Taiwan stocks faced heavy selling pressure on the 29th, with the weighted index diving as much as 980.51 points intraday to a low of 46055.07 points, closing down 667.25 points, or 1.42%, at 46368.33 points, with turnover reaching 7891.52亿元. The three major institutional investors sold a combined NT$81.666 billion net, with foreign investors turning from buying to selling, unloading NT$68.815 billion in a single day. Investment trusts stayed net buyers for the 13th straight trading day, adding NT$8.649 billion today. Proprietary dealers ended 2 straight buying days, turning to net selling of NT$184 million, while proprietary hedging dealers sold net for the 15th straight trading day, trimming NT$21.316 billion today.
State banks buy electronics stocks, 聯電 tops list
The eight state-owned banks bucked the trend to add electronics stocks today, with the top 10 net buys by volume being 聯電 33533 lots, 群創 7939 lots, 友達 7911 lots, 旺宏 5624 lots, 仁寶 4607 lots, 誠美材 4353 lots, 富喬 3436 lots, 頎邦2947 lots, 台玻 2089 lots and GIS-KY1325 lots. 聯電 ranked first with 33533 lots, well ahead of the other stocks, and was also the volume 冠軍 of Taiwan stocks today. Panel makers 群創 and 友達 ranked 2nd and 3rd, each with over 7900 lots net bought, while 旺宏, 仁寶 and 誠美材 were also added, showing buying concentrated mainly in electronics-related stocks.
Trimming financial stocks, diverging from foreign investors
On the selling side, the top 10 net sells by the eight state-owned banks were 穩懋3490 lots, 台新新光金 2776 lots, 中信金 2561 lots, 智原 2198 lots, 彰銀 1974 lots, 台塑 1846 lots, 第一金 1771 lots, 永豐金 1383 lots, 華新科 1280 lots and 臺企銀1217 lots. 穩懋 topped the list with 3490 lots, followed by 台新新光金 and 中信金 in 2nd and 3rd. Financial stocks occupied 6 of the top 10 net sells, including 台新新光金, 中信金, 彰銀, 第一金, 永豐金 and 臺企銀, becoming one of the main trimming targets.
Notably, 聯電 and 友達 were both among today's top five net sells by foreign investors, whose top five net sells were 聯電, 友達, 群創, 旺宏 and 仁寶, yet were bought by state-owned banks against the trend. On the other hand, 台新新光金, 中信金, 彰銀 and 智原 were all among today's top five net buys by foreign investors, whose top five net buys also included 華邦電, yet were sold by state-owned banks. Investment trusts' top five net buys were 華新科, 長華, 英業達, 南亞 and 日月光投控, and top five net sells were 聯電, 兆豐金, 台塑化, 中信金 and 台新新光金, showing divergent positioning among different institutions on individual stocks, with subsequent fund flows worth watching.