Heavyweight Electronics Lead Decline Below Half-Year Moving Average
Taiwan stocks faced the last trading day of October on October 30. Affected by selling pressure triggered by U.S. tech giant earnings reports and rising market doubts over the payback of artificial intelligence capital expenditure, the weighted index plunged over 1600 points intraday, falling below 46000 points, 45000 points and the half-year moving average in succession. It closed down 1156.5 points at 45211.83 points, with turnover of 8877.3億元. The weekly line fell for three consecutive weeks, down 829 points for the week, while the monthly line turned negative, with October cumulative decline of 2728 points. Taiwan stocks have fluctuated sharply recently, surging over 900 points on Wednesday on an electronics rebound, pulling back 667 points on Thursday as U.S. technology selling pressure widened, with losses expanding further today. Month-end institutional position adjustments and changes in foreign investor futures and spot positioning also intensified volatility.
AI Supply Chain and Panels Face Heavy Profit-Taking Pressure
Among heavyweight stocks, 台積電 tested 2360 yuan intraday, closing down 45 yuan at 2370 yuan, down 1.86%, becoming a major source of pressure on the broader market. 聯發科 fell nearly 5% intraday, closing at 3915 yuan, down 3.21%. The company was scheduled to hold an earnings call on the afternoon of the day, with the market focusing on the fourth-quarter operating outlook, AI ASIC business progress and gross margin changes. 台達電 closed at the limit-down price of 1335 yuan, 鴻海 closed at 245.5 yuan, down 1.01%, 廣達 closed at 318 yuan, flat, relatively resilient, while 聯電 continued its weak pattern after its earnings call, and 國巨 and 日月光投控 also faced selling pressure.
Shipping Closes Higher Against Trend as Safe Haven
In terms of sector performance, printed circuit boards and the artificial intelligence supply chain, which had recently risen sharply, became the focus of profit-taking. 台光電, 金像電, 欣興, 景碩, 臻鼎-KY and 台燿 generally weakened, with 中台燿 hitting limit-down intraday and 金像電 falling nearly 9% at one point. The panel sector was among the hardest hit, with 友達 hitting limit-down, 群創 plunging 7.5%, and 彩晶 falling about 4.3%. Stocks that had previously attracted capital on AI advanced packaging, glass substrate and CPO transformation themes were the first to be trimmed after short-term sharp gains. Small and mid-cap electronics weakened in tandem, with the over-the-counter index falling over 5% intraday, showing selling pressure spreading from large-cap technology stocks. In contrast to broad pressure on electronics stocks, shipping stocks were relatively resilient, with 長榮 holding up the market intraday against the trend, while 陽明 and 萬海 both closed up over 4%, becoming a safe haven for funds.
Outlook Focuses on U.S. Stocks and Chip Stabilization
Analysts said that affected by the pullback in U.S. technology stocks, foreign investor profit-taking and doubts over artificial intelligence capital expenditure in the short term, market volatility has increased markedly. As the index fell below several important moving averages, short-term chip supply-demand and investor confidence both face tests. In the short term, it is still necessary to wait for chips to stabilize. If U.S. technology stocks remain under pressure, Taiwan stocks may continue a volatile consolidation pattern. With U.S. large technology companies showing divergent earnings performance and future outlooks, the market is watching whether AI infrastructure investment can translate into substantial profits. Whether the index can reclaim the half-year moving average, and whether mainstream sectors such as AI, semiconductors and PCB can regroup buying interest, will be important observation indicators for November market trends.