Taiwan Stocks Plunge Over 1000 Points, Lose Key Level
On the 30th, pressured by weaker U.S. technology stocks, earnings and guidance from tech giants, and synchronous declines in major Asian markets, Taiwan stocks plunged over 1600 points intraday, falling below the 45000-point mark. Low-level buying emerged, and with shipping, some financial and consumer stocks holding relatively firm, the index closed down 1156.50 points at 45211.83.
Short-Term Sentiment Overrides Fundamentals
On recent market action, the Allianz Global Investors Taiwan equities team said electronics heavyweights and the AI supply chain were the main sources of selling pressure, with related groups broadly under pressure, showing funds have turned cautious in the short term amid international technology stock volatility and cooling market risk appetite. 蕭惠中, manager of 安聯台灣大壩基金 and 安聯台灣科技基金, believes interest-rate trends, tech-giant earnings and international market news continue to interfere, and even companies reporting strong earnings inevitably face profit-taking pressure, with Taiwan stock volatility widening markedly and short-term investment sentiment clearly overriding fundamentals.
AI Demand and Cloud Spending Unchanged
蕭惠中 said the short-term market remains disturbed by Federal Reserve policy expectations, interest-rate changes, AI investment concerns and technology earnings, but cloud operators continue to expand AI capital expenditure, AI demand keeps growing, and Taiwan's key position in the global AI supply chain is unchanged. 陳思銘, manager of 安聯台灣智慧基金, also believes short-term noise has increased and investment sentiment is cautious, and Taiwan stocks will repeatedly test the bottom. From an industry perspective, large U.S. cloud service providers continue to invest strongly in AI, and with next-generation servers shipping gradually, related companies' revenue in the 4th quarter is expected to keep growing, while order and revenue momentum in AI-related supply chains remains strong.
Offense-Defense Positioning Focuses on Stock Divergence
廖本隆, manager of 00984A 安聯台灣高息成長主動式ETF, pointed out that AI infrastructure, advanced computing and semiconductor supply-chain investment continue to advance, forming the structural momentum supporting Taiwan stocks' mid- to long-term growth, but some growth industries have already risen sharply with elevated valuations, and divergence will become more pronounced. He recommends taking financial holdings as the largest industry allocation to improve diversification and capture rotation, with growth exposure covering semiconductor foundry, advanced packaging, memory, IC design, semiconductor equipment, PCB, industrial PCs and thermal solutions. 郭勁甫, manager of 00993A 安聯台灣主動式ETF, said Fed interest-rate policy, U.S. long-bond yields and the impact of geopolitics on oil prices and inflation remain variables, with the market entering an environment of high interest rates, high valuations and high volatility, where funds will focus on AI-related companies with higher revenue and EPS growth visibility, and the rally will shift from a broad across-the-board rise to industry and individual-stock divergence, with multi-strategy approaches helping capture rotation.