TAIPEI (TVBS News) — Taiwan's stock market opened with a significant drop of 396.75 points, plunging to 22,359 points on Tuesday (March 4), marking the lowest level this year. This downturn followed the steep decline in TSMC's (台積電) opening stock price, which fell below the NT$1,000 mark, adversely affecting the broader market trend.
All three major weighted stocks experienced declines. TSMC dropped as much as NT$24 to NT$996, breaching the NT$1,000 threshold. Hon Hai (鴻海) fell NT$5 to NT$165, while MediaTek (聯發科) decreased by NT$35 to NT$1,435.
Taiwan's stock market's weak opening performance was due to U.S. President Donald Trump's announcement of a 25% tariff on Canada and Mexico, effective today, leading to a sharp decline in U.S. stocks. Tech stocks like NVIDIA plummeted 8.69%, and TSMC's ADR dropped 4.19%, both hitting new lows for the year. These factors contributed to
The market continued to digest TSMC Chairman C.C. Wei's (魏哲家) announcement with Trump regarding TSMC's commitment to reinvest at least US$100 billion in the U.S. This investment aims to construct three wafer fabs and two advanced packaging plants, potentially avoiding hefty tariffs on chips exported to the U.S.
Companies like Marketech International Corp. (帆宣) and United Integrated Services (漢唐), which are TSMC's suppliers for U.S. plant construction, both saw strong gains, each rising by half a point.
