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Taiwan Stock Market Drops 160 Points Due to Weak Blue Chips; Trump Boosts Auto Stocks

Taiwan Stock Market Drops 160 Points Due to Weak Blue Chips; Trump Boosts Auto Stocks

The Taiwan stock market ended with a drop of 160.33 points, closing at 19478.81. Despite all four major U.S. indices rising, Taiwan opened with a gain of 113.45 points this morning, peaking at 19752.59 points before facing selling pressure, dipping to a low of 19433.37. Ultimately, the weighted index fell by 0.82%, with a trading volume of NT$ 241.12 billion.

TSMC's ADR rose 4.23% on the previous trading day, closing at $157.81. Today, TSMC (2330) opened $13 higher but retracted and fell back, with a final price of $864, down 1.03%.

Main blue chip stocks were weak, with Hon Hai (2317) closing at $136.5, down $2.5; MediaTek (2454) at $1330, down $40; Quanta (2382) at $230, down $5; Delta Electronics (2308) at $326.5, down $3; and ASE Technology (3711) at $132.5, down $5. Additionally, Largan Precision (3008) closed at $2140, down $40.

In the financial sector, Fubon Financial (2881) closed at $78.3, down $1; Cathay Financial (2882) at $53.5, down $0.1; and CITIC Financial (2891) rose slightly by $0.1, closing at $36.35.

On the sector front, the home life sector rose 4.51%, leading the gains, followed closely by information services at 3.04%. Other sectors including electronics distribution, sports & leisure, textiles, digital cloud, and automotive also saw positive growth. However, the oil and gas sector suffered the most, down 3.4%, with other sectors such as plastics, petrochemicals, semiconductors, and other electronics also showing weak performance.

U.S. President Trump is considering exempting some tariffs on auto manufacturers, positively affecting auto-related stocks. Companies such as Hong Hsu-KY (2243), Rui Li (1512), and Tiger Mountain (7736) hit the upper limit, while Gendin (1524) surged by 7.17%. Other stocks, including Tiwei West (1522), Heda (1536), Cangyou (1468), and Yulon (2201) rose more than 3%.

The top five gainers today were: Rui Li (1512), up $0.63 with a 10% increase; You Cheng Precision (4949), up $4.3 with a 9.94% increase; Mai Da Te (6112), up $4.25 with a 9.93% increase; Sheng Tai (8072), up $4.05 with a 9.93% increase; and An Chi (3528), up $6.7 with a 9.93% increase.

The top five losers were: United Renewable Energy (3576), down $0.54, a 5.97% decrease; Rong Hui-KY (6924), down $4.5, a 5.96% decrease; Tai Chi (4934), down $0.62, a 5.93% decrease; Guanxi Electric (2466), down $6, a 5.53% decrease; and Jincai Technology (3535), down $1.7, a 5.01% decrease.