Index sheds nearly 1,000 points intraday, closes sharply lower
The Taiex plunged by more than 980 points intraday on the 29th, breaking below the 46000 mark, before bargain hunting narrowed the decline. It closed down 667.25 points, or 1.42%, at 46368.33. Large-cap heavyweights were broadly weak, with heavy selling pressure across the market, as investors watched institutional flows.
Three institutional investors sell NT$81.6 billion net as investment trusts keep buying
The three institutional investors sold a combined net NT$81.666 billion. Foreign investors reversed their earlier bullish stance, selling a net NT$68.815 billion in a single day. Proprietary traders turned bearish, selling a combined net NT$21.5 billion, including NT$184 million in own-account trading and NT$21.316 billion in hedging operations. Investment trusts showed resilience, adding NT$8.649 billion, marking 13 consecutive trading days of net buying, with total repurchases exceeding NT$2028 billion during the period.
UMC dumped with 129,000 lots, sent to limit-down
UMC (2303) was a major target of foreign selling, with a single-day net sell of 129,271 lots. The stock hit limit-down mid-session, falling 9.77% to close at NT$115.5, with trading volume of 337,000 lots and 9,308 lots queued at the limit-down price. Heavyweights weakened in tandem, with TSMC falling NT$10 to close at 2415, MediaTek falling 4.49% to close at NT$4045, Delta Electronics falling NT$70 or 4.52% to close at NT$1480, and Quanta closing at NT$318, down 3.64%.
Foreign investors' top buy and sell lists revealed
The top ten net sells by foreign investors were UMC with 129,271 lots, Active CTBC Taiwan Income (00406A) with 78,278 lots, AUO (2409) with 50,436 lots, Innolux (3481) with 46,307 lots, Yuanta Taiwan 50 (0050) with 43090 lots, Active Uni-President Upgrade 50 (00403A) with 29,011 lots, Active Uni-President Taiwan Growth (00981A) with 26,238 lots, Macronix (2337) with 18,674 lots, Compal (2324) with 16,350 lots, and Taiwan Glass (1802) with 14,659 lots. The top ten net buys were Cathay FTSE REIT (00712) with 20,566 lots, Taishin Shin Kong Financial (2887) with 19911 lots, CTBC Financial (2891) with 17,315 lots, Winbond (2344) with 14,319 lots, Chang Hwa Bank (2801) with 10,427 lots, Faraday (3035) with 8,520 lots, Pou Chen (9904) with 7806 lots, Mega Financial (2886) with 7768 lots, SinoPac Financial (2890) with 6,077 lots, and Nanya Technology (2408) with 5,661 lots.