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.