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Taiwan Stocks Plunge Over 1,200 Points Intraday, Fall Below Half-Year Line

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Hit by weaker-than-expected earnings from Google, Amazon and Intel, all four major U.S. indexes closed lower. Taiwan stocks opened lower on the 30th and moved lower, plunging over 1,277 points intraday to 45090.71, falling below the half-year line of about 45280.

Weak U.S. Tech Earnings Drag Taiwan Stocks to Lower Open

Hit by weaker-than-expected earnings from tech giants including Google, Amazon and Intel, selling pressure on U.S. tech stocks widened, with all four major indexes closing lower, which also dragged Taiwan stocks at the open today (30th). Taiwan stocks opened at 46139.79, down 228.54, then losses continued to widen, plunging over 1277 points intraday to 45090.71, falling below the prior low again and below the half-year line of about 45280, with heavy selling pressure and a cautious, wait-and-see mood.

Heavyweights Weaken Together, 台積電 Falls 45

Heavyweight stocks weakened together. 台積電 (2330) opened down 35 at 2380, with intraday losses widening to 45 to 2370. 聯發科 (2454) fell 185 to 3860, a relatively sharp drop. 鴻海 (2317) fell 4 to 244, and 廣達 (2382) fell 5 to 313. 台達電 (2308) plunged 130 to 1350, with heavy losses. 長榮 (2603) fell 1.5 to 259.5, with electronic and traditional heavyweights mostly pulling back.

Panel Makers Plunge, 友達 Down Over 9%

The panel sector also faced heavy selling pressure. 友達 (2409) held an earnings call yesterday, reporting a Q3 loss per share of 0.33, and opened today down over 9% at 30.80. 群創 (3481) weakened as well, falling about 8% intraday to 42.10. After earnings were released, selling pressure emerged in the panel sector, with share prices clearly under pressure, making it one of the groups with the steepest declines and adding to the overall market's wait-and-see mood.

All Four Major U.S. Indexes Closed Lower on the 29th

All four major U.S. indexes closed lower on the 29th. The Dow Jones Industrial Average fell 132.54, or 0.25%, to close at 52342.56. The S&P 500 fell 23.59, or 0.30%, to close at 7720.39. The Nasdaq fell 365.13, or 1.38%, to close at 26184.72. The Philadelphia Semiconductor Index fell 165.80, or 1.42%, to close at 11518.20. Investing always involves risk, with both gains and losses. Before subscribing, investors should read the prospectus carefully, and learning correct investment concepts can minimize the risk of loss.

FAQ

What were the intraday maximum drop and low for Taiwan stocks on the 30th?

Taiwan stocks opened at 46139.79 on the 30th, down 228.54, plunging over 1277 points intraday to 45090.71, and fell below the half-year line of about 45280.

How did TSMC and major heavyweights perform on the 30th?

TSMC opened down 35 at 2380, with intraday losses widening to 45 to 2370; MediaTek fell 185 to 3860, Hon Hai fell to 244, Quanta fell to 313, Delta Electronics fell to 1350, and Evergreen fell to 259.5.

How did the four major U.S. indexes close on the 29th?

The Dow fell 132.54 to close at 52342.56, the S&P 500 fell 23.59 to close at 7720.39, the Nasdaq fell 365.13 to close at 26184.72, and the Philadelphia Semiconductor Index fell 165.80 to close at 11518.20, with all four major indexes closing lower.