Taiwan Stocks Pare Gains Midday, Memory and ABF Sectors Surge

(CNA) Taiwan stocks opened higher today, surging over 741 points, but pared gains midday, hovering around 46,400 points. TSMC rose NT$15 to NT$2,405, UMC saw a slight increase, and other large-cap stocks showed mixed performance, while memory, ABF, and CCL sectors experienced strong gains.

Concerns about high valuations in the tech sector continued to weigh on the market, dragging down the US Nasdaq and S&P 500, which closed lower. Taiwan Semiconductor Manufacturing Company (TSMC) ADR (American Depositary Receipt) rose over 1%, and UMC ADR surged 6.91%.

The Taiwan Stock Exchange (TAIEX) opened at 46,339.68 points today, reaching a high of 46,785.45 points in morning trading, up over 741 points. However, midday gains were trimmed, and the 5-day moving average was lost.

As of around 11:20 AM, the TAIEX was up 383.73 points, or 0.83%, at 46,427.33 points. The electronics sector was up 0.66%, the financial sector was up 1.97%, and the GreTai Securities Market (GTSM) index was down 0.31%.

Looking at large-cap stocks, TSMC was up NT$15 midday to NT$2,405, a 0.63% increase. MediaTek turned positive, UMC was up less than 1%, Yageo rose over 4%, Largan Precision was up over 4%, Hon Hai was up over 1%, while Delta Electronics declined.

US memory giant Micron Technology reported strong earnings, with revenue and profit exceeding analyst expectations. The company also signaled that tight memory chip supply would continue beyond 2027, boosting the memory sector. Nanya Technology and Winbond Electronics rose over 5%.

The ABF (Ajinomoto Build-up Film) sector saw significant gains today. Kinsus Interconnect Technology and Unimicron Technology rose over 8%. Nan Ya Printed Circuit Board Corp. hit the daily limit of NT$1,045. Unimicron and Nan Ya PCB returned to the NT$1,000 level. The CCL (Copper Clad Laminate) sector also surged, with Lotte Chemical Taiwan and TPK-KY hitting the daily limit at NT$339.5 and NT$289.5, respectively.

US robotics company Agility Robotics announced its upcoming listing on the Nasdaq. Last year, E-Sun Securities Investment Trust Co. and Canon Inc. jointly invested US$10 million. In anticipation of future capital increases related to the listing, E-Sun Group plans to invest an additional US$10 million. E-Sun Securities Investment Trust Co. surged to the daily limit of NT$44.4, and Canon saw a temporary surge of over 8%.

Observing the performance of high-priced stocks, the top-ranked stock, Realtek Semiconductor, fell nearly 4%, and the second-ranked stock, Winstone Technology, fell over 1%. High-priced stocks showed mixed movements. Nan Ya PCB, Unimicron, Jih-Sun Industrial Corp., Accton Technology, and GlobalWafers broke the NT$1,000 mark. The Taiwan stock market saw 56 stocks priced above NT$1,000 for the first time midday. (Editor: Lin Chia-han) 1150625

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