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Taiwan Stocks Plunge Over 1,500 Points, Breaking 44K Support Amid Tech Sell-off
Electronic Technology · Semiconductors · economic_daily · 2026-11-03
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Taiwan's stock market suffered a massive sell-off as the index dropped over 1,500 points, falling below the 44,000 mark, with heavyweights and high-priced tech stocks leading the decline.
What Happened
Market Plunge: Taiwan stocks experienced a sharp decline on the 3rd, with the index plummeting over 1,500 points to break below the 44,000 level. Driven by persistent selling pressure in US tech stocks and a weak Philadelphia Semiconductor Index, the market faced a broad-based sell-off across multiple sectors.
Heavyweight Drag: Major index constituents led the downturn, with TSMC hitting a new low for the period and MediaTek sliding significantly. The combined impact of these heavyweights, alongside weakness in companies like Nanya and ASE Technology, dragged the overall index down as capital exited the market.
High-Priced Stocks: The high-priced stock segment, often referred to as the 'thousand-dollar club,' faced severe selling pressure, with several stocks hitting limit-down prices. Market sentiment soured as investors liquidated positions in previously high-flying tech names, reflecting heightened volatility and risk aversion.
Biotech Resilience: Amid the widespread market decline, the biotechnology sector stood out as a rare bright spot. PharmaEssentia bucked the trend with a gain of nearly 3%, providing a small measure of support to the index and demonstrating relative resilience compared to the broader tech-heavy market.