Foreign investors sell NT$47.1 billion, sixth consecutive day of selling, reducing holdings in traditional sector stocks

(CNA, reporter Tseng Jen-kai, Taipei, July 9) The Taiwan stock market fluctuated within a range today. In the final trading session, TSMC's stock price fell, closing at its lowest point of the day. The main stock market index closed down 379.80 points at 45354.61 points, with a transaction value of approximately NT$944.341 billion. Among them, foreign investors sold NT$47.1 billion, with the top three stocks sold being China Petrochemical, Taiwan Cement, and Formosa Chemicals, all traditional sector stocks.

According to Taiwan Stock Exchange statistics, the three major institutional investors sold a net NT$39.393 billion today. Foreign and Mainland Chinese investors (excluding foreign proprietary traders) sold NT$47.132 billion, marking the sixth consecutive trading day of selling. Proprietary traders sold NT$7.671 billion. Only investment trusts were net buyers, with purchases of NT$15.410 billion.

In terms of individual stocks, the top three stocks sold by foreign investors in a single day were China Petrochemical with 43,162 shares, Taiwan Cement with 29,874 shares, and Formosa Chemicals with 23,859 shares, all traditional sector stocks. TSMC ranked 10th in the selling list, with foreign investors reducing their holdings by 12,748 shares.

On the buying side, the top three stocks bought by foreign investors in a single day were AU Optronics with 188,929 shares, Principal Taiwan Equity Fund (00403A) with 34,040 shares, and Evergreen Marine Corporation with 33,990 shares.

Tseng Yen-yu, Vice President of the Research Department at Grand Cathay Securities Investment Trust, analyzed that the Taiwan and Korean stock markets are the main beneficiaries of the current AI wave. In particular, the Korean stock market has seen a fierce rally this year, becoming an important indicator of the global technology stock market. The Taiwan stock market will also be affected. This Friday, SK Hynix's American Depositary Receipts (ADRs) will be listed on the Nasdaq in the United States. It is reported that the offering is 7 times oversubscribed, which is expected to set a new record for the scale of IPOs by foreign companies in the US. The performance of SK Hynix ADRs after listing will affect the future trend of the Taiwan stock market.

Regarding US President Trump's statement that the ceasefire agreement between the US and Iran "is over," causing renewed tension in the Middle East, Tseng Yen-yu believes the impact on the Taiwan stock market is limited. He cited the trend of international oil prices, which are most closely related to the US-Iran conflict. When the war first broke out in March of this year, international oil prices surged to a high point. Since then, various news has emerged, but oil prices have not reached new highs, indicating that the impact is gradually diminishing. (Editor: Lin Chia-hsien) 1150709

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