Taiwan Stocks Plunge in Early Trading, Fall Below 45000-Point Mark

黃黃郁婷 產業線記者2026-10-30 08:00

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Taiwan stocks opened at 46139.79 points on the 30th, down 228.54 points, before selling pressure broadened and the index at one point plunged 1469.54 points below the 45000-point level, with TSMC leading declines amid a U.S. tech stock correction and concerns over AI investment returns.

U.S. Tech Stocks Lead Declines, Drag Taiwan Stocks Lower at Open

U.S. stocks were mixed on the 29th, with technology stocks as the main source of selling pressure. The Dow Jones Industrial Average fell 132.54 points to close at 52342.56 points, down 0.25%; the S&P 500 fell 23.59 points to close at 7720.39 points, down 0.30%; the Nasdaq fell 365.13 points to close at 26184.72 points, down 1.38%; the Philadelphia Semiconductor Index fell 1.42%, ending four consecutive trading days of gains. TSMC ADR fell 1.75% to close at 431.81 U.S. dollars. Taiwan stock index futures fell to 45926 points in the after-hours session on the 29th, down 643 points from the reference opening price of the post-market trading session, a decline of about 1.38%; TSMC futures closed at 2390 NT dollars, down 30 NT dollars.

Taiwan stocks opened at 46139.79 points on the 30th, down 228.54 points, before selling pressure broadened. According to market quotes at 9:08 a.m., the index at one point reached 44898.79 points, plunging 1469.54 points, falling below not only 46000 points but also the 45000-point integer level. TSMC opened at 2380 NT dollars, down 35 NT dollars from the previous trading day's closing price of 2415 NT dollars. A decline in futures after-hours trading does not mean spot prices will necessarily open lower by the same number of points, as actual spot prices remain affected by opening orders and transaction prices of heavyweight stocks; today's widening decline shows market risk sentiment has further weakened.

Market Re-examines Returns on AI Capital Expenditure

One backdrop to this correction is that the market is re-examining the financial returns of large technology companies' investments in AI infrastructure. After Google parent Alphabet reported third-quarter results that differed from market expectations, and as investors focused on high AI infrastructure spending, its share price plunged 12.64% on the 29th. Semiconductor and high-speed connectivity-related stocks also weakened, with Marvell plunging about 13%, affecting the market's short-term valuation of the AI hardware supply chain.

In recent years, technology giants have continued to increase investment in data centers, AI computing chips, networking equipment and power facilities, driving supply-chain demand. However, as investment scale expands, the market is watching when new capital expenditure will translate into revenue, profit and free cash flow. This does not mean AI demand has reversed, but valuation standards may be changing, shifting from valuing whether companies invest in AI and secure orders to valuing actual profits, cash flow and payback periods. For Taiwan stocks, which are concentrated in semiconductors and the AI supply chain, this change may amplify the impact of the international technology stock correction.

Heavyweight Stocks and Foreign Investor Moves Are Key Focus

On the 29th, Taiwan's benchmark index fell 667.25 points to close at 46368.33 points, down 1.42%, with an intraday low of 46055.07 points. TSMC closed at 2415 NT dollars, down 10 NT dollars; MediaTek fell 190 NT dollars to close at 4045 NT dollars; Hon Hai closed at 248 NT dollars, down about 1.39%. According to the Taiwan Stock Exchange's statistics on the three major institutional investors on the 29th, foreign and mainland investors, excluding foreign proprietary trading, sold a net of about 688.15 billion NT dollars in super-large lots, proprietary dealers sold a net of about 215 billion NT dollars, while investment trusts remained net buyers, with different institutions trading in different directions.

Going forward, it will be necessary to watch whether the decline spreads from TSMC, MediaTek and other large technology stocks to PCB, cooling, memory, equipment and other groups, whether trading value expands, and whether financial and traditional industrial stocks can prove relatively resilient. If declines are accompanied by expanding trading value, it may reflect stronger selling pressure; if buying support emerges, the decline may narrow. In the short term, it will be necessary to watch whether electronic heavyweights stabilize, changes in volume, whether foreign investors sell for consecutive sessions, and fluctuations in the New Taiwan dollar exchange rate.

FAQ

How much did Taiwan stocks fall in early trading on the 30th?

Taiwan stocks opened at 46139.79 points on the 30th, down 228.54 points, and according to market quotes at 9:08 a.m. at one point reached 44898.79 points, plunging 1469.54 points, falling below 46000 points and losing the 45000-point integer level.

Why did U.S. technology stocks fall?

Google parent Alphabet's third-quarter results differed from market expectations, while the market focused on high AI infrastructure spending, sending its shares down 12.64% on the 29th; Marvell plunged about 13%, the Nasdaq fell 1.38%, the Philadelphia Semiconductor Index fell 1.42%, and TSMC ADR fell 1.75% to close at 431.81 U.S. dollars.

What indicators should be watched in the market ahead?

It will be necessary to watch whether selling pressure spreads from heavyweight stocks to other electronics groups, whether trading value expands, whether financial and traditional industrial stocks can hold up, as well as whether foreign investors sell for consecutive sessions, positions in Taiwan stock index futures and changes in the New Taiwan dollar exchange rate; on the 29th, foreign and mainland investors sold a net of about 688.15 billion NT dollars, while proprietary dealers sold a net of about 215 billion NT dollars.