TAIPEI (TVBS News) — Taiwan's stock market came under substantial pressure on Wednesday (April 9), with the morning session beginning at 18,337.44 points before tumbling nearly 300 points. Despite the downturn, Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) maintained its position, closing at NT$816 (around US$24.73).
The ongoing strain from reciprocal tariffs continued to weigh on the market. Hon Hai (鴻海) dipped below NT$120 (US$3.64) to NT$119 (around US$3.61), while Quanta (廣達) gained NT$4 (around US$0.12) to reach NT$195.5 (US$5.93). MediaTek (聯發科) fell by NT$15 (around US$0.45) to NT$1,245 (US$37.73). After Monday's dramatic 2,000-point drop, the market faced another steep decline of 1,000 points yesterday. In a bid to restore confidence, the National Financial Stabilization Fund (國安基金) announced plans to intervene with NT$500 billion (US$15.15 billion), potentially entering the market today.
The announcement spurred a positive shift in Taiwan's futures market yesterday evening, with gains surpassing 600 points, equating to over 3%. This optimism was short-lived, as a downturn in the U.S. market reversed the trend, dragging Taiwan's futures down with it. TSMC's American depositary receipts (ADRs) followed a similar trajectory, initially opening high but ultimately closing down 3.28% at US$141.37.
Historically, interventions by the fund have sparked a market rebound within a week, with average gains of 5.7%. However, as the U.S.-China tariff conflict escalates, President Donald Trump's announcement of a 104% tariff on Chinese imports has sent U.S. markets reeling. The Philadelphia Semiconductor Index plunged 3.57%, the S&P 500 slipped below 5,000 points, the Nasdaq declined more than 2%, and the Dow Jones tumbled over 300 points.
