TAIPEI (TVBS News) — Taiwan's stock market experienced a turbulent day on Friday (Nov. 14), closing with a significant drop of 506.06 points, or 1.81%, and finishing at 27,397.5 points. The market opened at 27,816.45 and hit a morning low of 27,383.34, a sharp decline of 520 points, before ending below the monthly moving average of 27,865. The market fell by 253.91 points over the week, marking a second consecutive week of decline.
Investors reacted to concerns about the likelihood of U.S. interest rate cuts, impacting capital flows. The U.S. stock market's four major indices also tumbled due to uncertainty about the anticipated interest rate cuts on Wall Street. This uncertainty affected the stock prices of NVIDIA and other artificial intelligence companies.
In Taiwan's tech sector, Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) saw its stock fall by NT$35 in early trading, closing NT$30 lower at NT$1,430, a 2.05% decrease. Other major companies like Foxconn (鴻海) and Delta Electronics (台達電) experienced declines of 4.37% and 3.76%, respectively. AI stocks showed mixed results, with Asia Vital Components (奇鋐) and Auras (雙鴻) ending 5.02% and 2.46% lower. Wiwynn (緯穎), Wistron (緯創), and Quanta Computer (廣達) saw declines of 4.04%, 2.43%, and 1.93%.
Traditional industry stocks became a safe haven, with Yulon Group's (裕隆集團) automotive brand Luxgen (納智捷) reportedly set to be sold to Foxtron (鴻華先進), leading Yulon's stock to hit the daily limit at NT$43.35. Textile stocks strengthened, with Eclat (儒鴻) and Makalot (聚陽) rising by 1.94% and 4.24%. Shipping stocks also showed resilience. The top five stocks by trading volume were Walsin Lihwa Corporation (華新), Powerchip (力積電), Nan Ya Plastics (南亞), Nanya Technology (南亞科), and Taiwan Glass (台玻).
