Taiwan stock market opens lower following U.S. decline

TAIPEI (TVBS News) — Taiwan's stock market opened lower by more than 200 points to 20,530 on Monday (April 15), with Taiwan Semiconductor Manufacturing Co. (TSMC) opening down NT$15 to NT$803.

This follows a broad decline in U.S. stocks on Friday, with the Dow Jones Industrial Average closing down about 476 points or 1.24%, and the S&P 500, Nasdaq, and Philadelphia Semiconductor Index falling 1.46%, 1.62%, and 3.29% respectively.

Despite the downturn, Taiwan's semiconductor stocks remained strong last week. According to Cmoney statistics, following TSMC's third-quarter earnings conference on Oct. 19, 2023, Taiwan's semiconductor stocks embarked on a new bullish trend.

Domestic semiconductor ETFs performed strongly during this period. The Shin Kong TIP Taiwan Semiconductor 30 ETF (00904), CTBC Taiwan ESG Leading Semiconductor ETF (00891), Capital TIP Taiwan Semiconductor Dividend Yield ETF (00927), and Mega Taiwan Wafer Manufacture ETF (00913) all outperformed the weighted return index (25.3%) during the same period.

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