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Taiwan Stocks Slide as PHLX Weakness Triggers Sell-off, Testing 44,000 Support

Electronic Technology · Semiconductors · economic_daily · 2026-11-03

2308, 2317, 2330, 2454, 3711

Taiwan stocks faced heavy selling pressure on the 3rd, tracking a sharp decline in the Philadelphia Semiconductor Index, as investors reassess AI-related valuations.

What Happened

Market Performance: Taiwan stocks opened lower and faced significant selling pressure on the 3rd, tracking a 3.37% decline in the Philadelphia Semiconductor Index. The index briefly tested the 44,000-point support level during intraday trading, falling over 700 points.

Key Tech Stocks: Major semiconductor players, including MediaTek and ASE Technology, saw notable declines, while TSMC hovered near the flatline. The broader electronics sector remained under pressure as investors reacted to the negative sentiment from U.S. markets.

Correction Phase: The local market has corrected approximately 11.6% from its October peak, with the index falling below its six-month moving average. Analysts noted that the market has entered a second phase of correction, requiring close monitoring of support levels and institutional positioning.

Outlook: Despite current volatility, analysts remain cautiously optimistic due to sustained AI capital expenditure from major cloud providers. Historical data suggests potential year-end seasonal support, though a stabilization of selling pressure is required before a rebound can occur.

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