US stocks drag down broader market below 46,000
Taiwan stocks faced heavy selling pressure on the 30th, with the weighted index closing at 45211.83 points, plunging 1156.50 points, down 2.49%, with turnover of 8777.3 billion yuan. Major US indices closed lower across the board on the 29th, as Alphabet's Q3 earnings disappointed and free cash flow turned negative, plus Marvell shares plunged over 13%, dragging the Nasdaq and Philadelphia Semiconductor Index down over 1% each, with tech selling pressure spreading to Taiwan stocks. The broader market faced selling pressure at the open, sold off sharply intraday, rebounded after midday but still closed lower, ultimately falling below the 46,000 mark, showing market confidence was hit.
Electronics heavyweights weaken together
Most of the top turnover stocks were decliners, TSMC2330 closed at 2370 yuan, down 45 yuan, down 1.86%. MediaTek2454 closed at 3915 yuan, down 130 yuan, down 3.21%. UMC2303 closed at 111.5 yuan, down 4 yuan, down 3.46%. Delta Electronics2308 closed at 1335 yuan, down 145 yuan, down 9.80%. Yageo2327 closed at 502 yuan, down 41 yuan, down 7.55%. WIN Semiconductors3105 closed at 578 yuan, down 16 yuan, down 2.69%. Nan Ya Plastics1303 closed at 296 yuan, down 16 yuan, down 5.13%. ASE Technology Holding3711 closed at 668 yuan, down 15 yuan, down 2.20%. Nanya Technology2408 closed at 454.5 yuan, down 22.5 yuan, down 4.72%. Unimicron3037 closed at 989 yuan, down 51 yuan, down 4.90%, with selling pressure extending from semiconductors to memory, packaging/testing and electronic components.
OTC falls 4.42%, institutions watch key support
1148 listed stocks fell, only 158 rose, 853 OTC stocks fell and 248 rose, with small and mid-cap stocks also facing selling pressure. The OTC index closed at 370.26 points, sharply down 17.11 points, down 4.42%, with turnover of 2021.09 billion yuan, weaker than the broader market. Analyst 陳學進 of Lun Yuan Investment Advisory believes weaker-than-expected AI monetization and high capital expenditure have raised valuation bubble concerns, plus Middle East tensions, energy prices and market bets on a December Fed rate hike have disturbed the market, but Taiwan stocks have support below near 41610 to 43214 points on 731日 and near 44210 points on 825日. Analyst 容逸燊 of Qifa Investment Advisory believes US earnings affected Asian stocks, Japan and Korea retested July lows, the weighted index retested the half-year line, and next week must hold above 45,000, with holdings at 40 to 50%.