Taiwan Stocks Open Lower, Fall Below 38,000
Taiwan stocks opened at 38,915.76 points today (6th) and trended lower, hitting an intraday low of 37,837.05 points, down 3,737.67 points from the previous close of 41,574.72 points on the 5th, falling below the 38,000-point mark. As of the latest quote, the index was at 37,857.34 points, down 3,717.38 points, or 8.94%. Taiwan stocks had already plunged 1,374.19 points in the previous session to close at 41,574.72 points, with consecutive days of selling pressure keeping the market under pressure.
Heavyweights Weaken Across the Board, Electronics and Financials Fall Together
Market leader TSMC (2330) opened sharply lower by 220 yuan, last at 2,020 yuan, down 9.82%, approaching limit-down. MediaTek (2454) dropped 345 yuan, last at 3,115 yuan, down 9.97%. Delta Electronics (2308) was last at 1,020 yuan, down 9.73%, and ASE Technology Holding (3711) also fell 9.97%. Hon Hai (2317) was last at 214 yuan, down 8.94%, and Quanta (2382) was last at 274 yuan, down 8.67%. Electronic components and memory groups came under pressure in tandem, with EMC (2383) last at 3,690 yuan, Unimicron (3037) last at 720 yuan, and Nanya Technology (2408) opening at 324 yuan, all hitting limit-down. UMC (2303) fell 9.96%, and Nan Ya Plastics (1303) fell 9.84%. Financial stocks weakened in tandem, with Fubon Financial (2881) down 9%, Cathay Financial (2882) down 8.04%, and CTBC Financial (2891) down 8.95%, showing broad-based selling.
Market-Cap ETFs Under Pressure, Inverse ETF Rises Against the Trend
Market-cap ETFs faced selling pressure in tandem, with Yuanta Taiwan Top 50 ETF (0050) last at 88.9 yuan, down 8.49%, with volume exceeding 280,000 lots. Fubon Taiwan 50 (006208) was last at 205 yuan, down 7.89%. KGI Taiwan TOP50 (009816) was last at 13.4 yuan, down 7.78%, with volume reaching 182,200 lots. Cathay Taiwan Technology Leaders (00881) fell 9.25%, Nomura Taiwan New Tech 50 (00935) fell 9.14%, Cathay Taiwan Leaders 50 (00922) fell 8.85%, and Capital Taiwan ESG Low Carbon 50 (00923) fell 8.39%. In contrast, the inverse Yuanta Taiwan Top 50 Inverse 1 (00632R) was last at 11.84 yuan, rising 8.42% against the trend, with volume over 160,000 lots, reflecting heightened hedging sentiment.
U.S. Philadelphia Semiconductor Index Slumps, Korean Stocks Trigger Circuit Breaker
The sharp drop in Taiwan stocks was mainly affected by overnight selling pressure in U.S. technology stocks, with all four major U.S. indexes closing lower: the Dow Jones fell 1,833 points, or 3.44%, the S&P 500 fell 4.36%, the Nasdaq fell 5.52%, and the Philadelphia Semiconductor Index plunged 12.25%. Uncertainty over U.S. AI and data center regulatory policies increased, with growing market concerns over tech companies' capital expenditures and investment returns. Asian markets came under pressure in tandem, with Korea's KOSPI index plunging over 8% at the open, falling to around 4,923 points at one point, losing the 5,000-point level and triggering a Level 1 circuit breaker, halting stock trading market-wide for 20 minutes. Samsung Electronics and SK Hynix opened sharply lower by over 10%, and the Korea Exchange activated the sell-side Sidecar mechanism, suspending some program sell orders. On the筹码 front, listed margin balances decreased by about 66.663 billion yuan in total from November 3 to 5; going forward, margin changes, U.S. semiconductor trends, and whether limit-downs in heavyweights open need to be watched.