Taiwan stocks swing more than 450 points as TSMC supports market

  • Taiwan stocks swung sharply as TSMC supported the index while large-cap shares diverged.
  • Wistron priced 25 million GDRs at $58.88 each, a 5.5% discount.
  • Taiwan stocks had risen 775.14 points on the previous session.

Taiwan stocks swung sharply on the 8th as the Taiwan Weighted Index traded between 47,100 and 47,600, with TSMC providing the main support while other large-cap technology shares weakened. At 11:10 a.m., the index stood at 47,373.49, up 47.22 points, on turnover of approximately NT$554.4 billion. TSMC briefly reached NT$2,505, up nearly 2%, while Wistron fell more than 5% after pricing 25 million global depositary receipts (overseas securities representing local shares) at a 5.5% discount. Memory, semiconductor substrate, silicon photonics and optical communications stocks attracted buying, while shipping, tourism and construction shares retreated. The moves followed a 775.14-point rally on the 7th, when institutional investors recorded combined net buying of NT$112.719 billion. Analysts are watching whether support near 47,200 holds, whether the index can reclaim 47,300, and whether turnover expands toward NT$1.2 trillion.

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