TAIPEI (TVBS News) — Taiwan's stock market plunged 172.88 points Thursday (Sept. 25) to close at 26,023.85 after Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) shares fell following U.S. Federal Reserve Chair Jerome Powell's warning about overvalued American markets. TSMC's decline dragged the broader market to its lowest point of the day. The warning triggered selling across U.S. stocks, spreading to Asian markets.
TSMC closed down NT$20 (around US$0.66), or 1.49%, at NT$1,320 (around US$43.40). Foxconn (鴻海) surged NT$7 (around US$0.23), or 3.14%, to NT$230 (around US$7.56) as foreign investors continued buying. Delta Electronics (台達電) fell NT$7 (around US$0.23), or 0.79%, to NT$884 (around US$29.07).
AI sector stocks gained as Compal (仁寶) reportedly secured a significant AI server order from Dell Technologies. Compal jumped NT$1.9 (around US$0.06), or 5.51%, to NT$36.4 (around US$1.20) for a second consecutive day of gains. Wistron (緯創) and Inventec (英業達) both closed with gains exceeding 3%.
Giant Manufacturing (巨大) faced a setback after U.S. Customs issued a withhold release order over forced labor allegations. The order halts Taiwan-made bicycle exports to the U.S., potentially affecting 4% to 5% of revenue. Giant's stock initially plummeted nearly 9% but recovered to close down NT$0.9 (around US$0.03) at NT$99.9 (around US$3.28), dropping below NT$100.
