Taiwan Stocks Consolidate After Reaching New Highs, Closing Down 640 Points Amid Heavy Selling in Memory Sector

(CNA, Reporter: He Xiu-ling, Taipei, June 23) The Taiwan stock market surged to a historic high of 48,218.87 points in early trading. However, profit-taking selling pressure emerged, leading to a moderation in the gains of large-cap stocks. The index fluctuated by 1,118 points, ultimately closing at its lowest point of 47,100.65, down 640.86 points, a decline of 1.34%, with a turnover of NT$1,600.856 billion.

On the market, IC design stocks showed relatively strong performance, while memory and passive component sectors faced heavy selling pressure. The electronic sector index closed down 1.51%, while the financial sector index rose 0.36% against the trend. The over-the-counter index (GTSM) fell 2.8%.

TSMC, the "king of stocks," briefly reached a new high of NT$2,535 before closing down NT$20 at NT$2,490. Other large-cap stocks' closing performances included MediaTek, up NT$70 to NT$4,535; Delta Electronics, down NT$70 to NT$2,080; and Hon Hai, down NT$9 to close at NT$259.5. UMC briefly hit the daily limit of NT$176 before pulling back, closing up NT$10 at NT$170.

IC design stocks, led by MediaTek, performed relatively strongly today. Honsens, KAIYU, and ARTRONIC-KY hit the daily limit, while ANPEC and ANGELTECH rose over 9%, and ALTREC-KY and GUC rose over 1%.

Memory and passive component sectors faced heavy selling pressure today. Nanya Technology fell to the daily limit at NT$454.5, Etron Technology fell 8.82%, Macronix fell 7.28%. Phison and Apacer fell 5.81% and 5.07% respectively. Passive component stocks HOSIN and YAGEO hit the daily limit, while YAGEO and Walsin Technology fell 4.23% and 6.48% respectively.

Senior securities analyst Jian Bo-yi told CNA that the recent rise in Taiwan stocks was mainly driven by Taiwan Futures. Today, Taiwan Futures performed relatively weakly, so it is necessary to observe whether the futures decline will narrow. If the selling pressure is gradually digested, the pullback in the index will be limited, and Taiwan stocks still have the potential to approach the 48,000-point mark again. (Editor: Chang Liang-chih) 1150623

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