Higher Open, Lower Close, Testing Support at 46,000 Points
Despite a rebound in U.S. tech stocks during the market recess, Taiwan stocks surged by more than 544 points early on the 27th to 46,585.45 points before facing profit-taking, turning negative intraday with a drop of 364.76 points, falling below 46,000 points to 45,676.67 points, with a high-low swing of 908.78 points. The benchmark index rebounded 419.56 points from its intraday low, closing at 46,096.23 points, up 54.80 points, or about 0.12%, holding the 46,000-point level, with single-day turnover reaching 1兆105.71億元.
11th Straight Investment-Trust Buying Offsets Profit-Taking Pressure
Investment trusts posted single-day net buying of 236.45億元, buying net for 11 consecutive trading days, with the three major institutional investors turning to net buying of 31.42億元 combined. Looking back at past bottoming patterns after high-level corrections in Taiwan stocks, turning points have typically come with foreign-investor selling pressure narrowing and domestic buying leading, and the market is now in a stage of high-volatility bottom testing and major ownership turnover. Foreign-investor net selling today narrowed sharply by about 90% from the previous trading day, but the close at 46,096.23 points was still about 331.86 points below the 5-day moving average of about 46,428.09 points, with resistance above at today's high of 46,585 to 46,600 points.
After Massive Turnover, Focus on Three Validation Indicators
Today Taiwan stocks rose about 0.12%, lagging South Korea's KOSPI index of about 3.1% and Japan's Nikkei index of about 1.7%. Below, today's low of 45,676.67 points and the 半年線1026 estimate of about 45,121 points form a defensive watch zone. From this week into early November, the U.S. Federal Reserve interest-rate decision and earnings from Microsoft, Alphabet and Amazon are due. The focus ahead is on whether foreign-investor net selling can keep narrowing and turn to net buying and whether the New Taiwan dollar stops depreciating, whether 45,676.67 points can hold and the 5-day moving average can be retaken, and whether market confidence in 2027 AI capital expenditure continues, with core watches being 台積電2330, 鴻海2317, 廣達2382, 台達電2308 and 日月光投控3711.