Taiwan Stocks Pare Losses as MediaTek, Delta Electronics Turn Red to Support Market

(CNA, reporter He Xiu-ling, Taipei, July 2nd) U.S. tech stocks weakened, with the Philadelphia Semiconductor Index plummeting. Taiwan stocks opened lower today, falling over a thousand points in early trading and breaking below the 46,000-point mark. During the session, as heavyweight stocks like MediaTek and Delta Electronics turned red, the TAIEX index narrowed its losses to about 300 points; the TAISDAQ index rose over 1% against the trend.

Around 10:36 AM, the TAIEX was at 46,669 points, down 349 points, a decrease of 0.74%, with a transaction value of NT$551.2 billion.

Observing the intraday performance of heavyweight stocks, TSMC fell NT$40 to NT$2,465; Hon Hai fell NT$0.5 to NT$240.5; MediaTek rose NT$5 to NT$4,340; Delta Electronics rose NT$15 to NT$2,005.

The electronic sector index fell 0.76%, the financial sector index fell 0.68%, while the TAISDAQ index, representing small and mid-cap stocks, rose 1.15%.

Robotics concept stocks performed strongly today, with HOGL, TPK-KY, Ying Han, Lo-Sheng, IKKA-KY, Bin Tai, Global Gear, Apex Micro, and Solomon all hitting the daily limit.

Senior securities analyst Wang Zhao-li told CNA reporters that the opening of Taiwan stocks today mainly reflected the impact of the sharp decline in the U.S. Philadelphia Semiconductor Index. The decline was concentrated in semiconductor-related sectors, but apart from sectors like memory, other tech stocks did not perform weakly.

He pointed out that although U.S. stocks closed lower, it was not a comprehensive weakening but rather a pattern of sector rotation. Among the Magnificent Seven tech stocks, Meta and Google saw gains, while cybersecurity software and Microsoft's software stocks also strengthened, and analog ICs performed relatively steadily.

Wang Zhao-li believes that before TSMC's earnings call on the 16th, the Taiwan stock index is expected to maintain range-bound consolidation and will not experience continuous sharp rises or falls; overall, the market's fundamentals have not changed significantly, and the index will continue to be in a box-pattern consolidation range. (Editor: Yang Lan-hsuan) 1150702

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