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Taiwan Stocks Plunge as SOX Slump Triggers Sell-off; TSMC Leads Decline
Electronic Technology · Semiconductors · economic_daily · 2026-11-03
00406, 00685, 1303, 1802, 2308, 2317, 2330, 2408, 2454, 2881, 3037, 3711, 6505
Taiwanese stocks faced heavy selling pressure as the Philadelphia Semiconductor Index dropped 3.37%, with TSMC leading a broad decline across major tech stocks.
What Happened
Market Sell-off: Taiwan stocks opened significantly lower following a 3.37% drop in the Philadelphia Semiconductor Index, which triggered a broad sell-off in tech shares. TSMC's ADR and memory stocks led the decline, with the Taiwan index falling as much as 767 points during the session to test the 44,152 level.
Weighty Declines: Major tech heavyweights, including TSMC, MediaTek, and Hon Hai, all opened in the red, weighing heavily on the broader market. While electronic components and optoelectronics sectors struggled, defensive sectors such as financial holdings, shipping, and food provided some stability to the index.
Defensive Resilience: Amid the volatility, defensive stocks helped the market maintain a tug-of-war around the 44,400-point mark. Analysts noted that while the market is in oversold territory, the reduction in margin financing has not kept pace with the index's decline, suggesting that technical consolidation is still ongoing.
Outlook: Investors are advised to monitor the performance of the SOX and Nasdaq, as well as foreign institutional activity in both futures and spot markets for signs of a rebound. Long-term prospects remain focused on the AI supply chain and companies with solid fundamental earnings support.
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