Broad Market Opens Lower and Oscillates Below 47000
Taiwan stocks opened today on the 29th with the weighted index down 80.05 points at 46955.53, down 0.17%, briefly reaching 47014.87 early in the session and hovering around the 47000 level. US stocks closed higher on the 28th for a third straight session across all four major indexes, as the US Federal Reserve held interest rates unchanged and Chair 華許 reiterated determination to fight inflation, but did not clearly signal whether rates will rise in December. Oracle surged nearly 11% on its long-term revenue outlook, while semiconductor stocks also strengthened, shifting market focus to major technology earnings, but the rally failed to lift Taiwan stocks.
台積電 Weakens While Small and Mid-Cap Stocks Hold Up the Market
Heavyweight 台積電 opened down 5 at 2420, down about 0.21%, becoming a source of pressure on the broader market. The OTC index representing small and mid-cap stocks rose 2.47 points to 397.08, up 0.63%, showing funds had not fully withdrawn. Among weak technology groups, AI PC concept stocks fell 1.07%, GTC concept stocks fell 0.84%, wireless charging fell 0.64%, with 台達電 down 2.90% and 瑞昱 down 0.51%, reflecting clear fund rotation within technology stocks.
Memory and Silicon Photonics Lead Gains Against the Trend
The highlight was the memory group rising 1.63% against the trend, with 南亞科 up 3.14%. Third-generation semiconductors rose 1.57%, silicon photonics rose 1.50%, and copper-clad laminate rose 1.19%, including 中台光電 up 4.48%. Among listed sectors, networking rose 0.55%, biotech rose 0.36%, cables rose 0.21%, and autos rose 0.19%, with 全新 up 2.73% and 藥華藥 up 0.83%. On the weak side, glass fell 0.95%, department stores fell 0.67%, cement and transportation both fell 0.56%, with 萬海 down 1.69%, 統一超 down 1.12%, and 台玻 down 1.07%.
Institutions Focus on AI Infrastructure and Market Variables Ahead
倫元投顧 陳學進 noted that, helped by Anthropic filing for IPO rekindling AI enthusiasm plus lower oil prices, Taiwan stocks yesterday recovered the quarterly moving average and 47000, with the daily KD back above 20, showing a short-term chance of stabilizing. Next, watch whether the K value can break above the D value to form a golden cross, along with expanding trading volume and continued net buying by foreign investors. 啟發投顧 容逸燊 said margin balances increased by 9 billion after falling by 20 billion over two consecutive days, memory stocks face an overhang zone at highs while spot prices are unlikely to hit new highs, so rebounds can be trimmed first, while passive components and CPO at low levels can be accumulated in batches. The outlook focuses on whether the weighted index can hold above 47000, whether 台積電 stabilizes, and on US interest rates and technology earnings.