TAIEX Plunges Over 1,500 Points at Midday
Taiwan stocks saw selling pressure intensify on the 3rd, with the TAIEX dipping to 43397.09 points by midday, breaking below the 43400-point level. The index was quoted at 43407.44 points during the session, down 1512.7 points or 3.37%, as market panic heated up and the trend turned markedly weaker.
NT Dollar Falls to 32.763, Stocks and Currency Under Pressure
The foreign exchange market was also under pressure, with the NT dollar against the U.S. dollar trading at 32.763 intraday, depreciating 1.71 jiao or 0.53%, reflecting a weaker NT dollar. Stocks and the currency came under simultaneous pressure, further magnifying funding pressures.
Memory and PCB Stocks Hit Limit-Down
Recently chased memory, PCB and related supply chains became the focus of the selloff. Memory stocks bore the brunt first, with DRAM leaders Nanya Technology2408 and Winbond2344 both hitting limit-down, falling to 411 and 146 respectively. NAND Flash controller leader Phison8299 also hit limit-down at 1690. Passive component stocks were also dumped, with Walsin Technology2492 hitting limit-down at 320.5. PCB and IC substrate stocks were also hard hit, with Kinsus3189 hitting limit-down at 820 and Nanya PCB8046 plunging to 1070. Jin Ju8358, Da Liang3167 and Topoint8021 also fell nearly 10%. Electronic materials stock Nanya Plastics1303 also hit limit-down at 271, showing selling pressure spreading from memory to PCB upstream and downstream supply chains.
Optical Communications, AI and High-Priced Stocks Extend Losses
Optical communications stocks were broadly lower, with LuxNet4979 and LandMark3081 hitting limit-down at 383.5 and 2175 respectively, while Shunsin-KY6451 also hit limit-down at 293.5. VPEC2455 and Win Semiconductors3105 also plunged nearly 10%. AI testing and equipment-related stocks could not escape selling pressure either, with MPI6223, Chroma2360 and Yinneng Technology7734 all falling nearly 10%. Notably, high-priced stocks also saw clear profit-taking, with thermal stock Kaori8996 hitting limit-down at 1360 and enclosure maker Fushida6805 hitting limit-down at 2115. Optical stocks Genius Electronic Optical3406 and Largan Precision3008 hit limit-down at 932 and 4945 respectively. Semiconductor equipment stock Wanrun6187 also plunged to 1080, showing the selloff has spread from hot technology themes to different industries and price tiers, with selling pressure in electronics broadening across the board.