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Taiwan Stock Market Soars by 845.71 Points, Major Public Funds Offload Stock of Chundi

Taiwan Stock Market Soars by 845.71 Points, Major Public Funds Offload Stock of Chundi

The Taiwan stock market closed today (23rd) at 19,639.14 points, up 845.71 points, or 4.50%, with a transaction volume of NT$269.6 billion, marking the second largest increase in history. According to data from "Wanggu.com," the major public funds have heavily sold shares today, particularly Chundi (9933), which is expected to report NT$19.6 billion in bad debt due to an investment issue with its U.S. subsidiary, leading to four consecutive limit-downs. However, after the board announced adjustments to cash dividends and initiated a private placement, Chundi's stock surged to NT$28.2 today, but major public funds still took the opportunity to cut 4,160 shares for a cash out of NT$107 million.

In terms of selling volume, Chundi topped the list with 4,160 shares, followed by TSMC (2330) with 2,188 shares, recovering NT$1.873 billion, and Hon Hai (2317) with 1,775 shares, totaling NT$246 million sold. Online comments suggest that people are questioning the strategy of buying low and selling high with remarks like, "How can you lose when you buy green and sell red?" and questioning the luck of public funds with comments like, "It looks like the public funds are selling Middle Tred again."

Additionally, other notable sell-offs include UMC (2303) with 1,595 shares, Inventec (2356) with 1,544 shares, and Compal (2324) with 1,485 shares, indicating significant market fund flows.