Taiwan stocks hit record high before plunging 620 points, holding above 5-day moving average

Military conflict between the U.S. and Iran has escalated again, with both sides launching airstrikes, causing stock markets in Japan and South Korea to plunge. The Taiwan stock market opened high, reaching a record 44,954 points, before plummeting to a low of 43,236 points, a volatility range of 1,717 points. Supported by late-session buying in TSMC, the index closed at 43,636.44 points, holding above the 5-day moving average of 43,466 points. Following reports of U.S. airstrikes near Bandar Abbas airport in southern Iran and subsequent Iranian retaliation, significant selling pressure emerged. The index closed down 620.36 points, or 1.4%, with a massive turnover of NT$1.59 trillion. The electronics index hit a new high during the session but closed down 1.54%. TSMC hit a record high of NT$2,360 during the session but closed at NT$2,295, down NT$5. Auto parts stocks surged to the daily limit due to news of tariff concessions.