Taiwan stocks narrow losses, MediaTek and Delta Electronics turn positive to support the market

(Central News Agency Reporter He Xiu Ling Taipei, 2nd) US technology stocks weakened, and the Philadelphia Semiconductor Index plunged. Taiwan stocks opened lower today, falling over 1,000 points in early trading and falling below the 46,000-point mark. As of midday, with the rebound of heavyweight stocks such as MediaTek and Delta Electronics, the weighted index narrowed its losses to about 300 points; the OTC index rose more than 1% against the trend.

Around 10:36 AM, the weighted index was 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 electronics sector index fell 0.76%, the financial sector index fell 0.68%, and the OTC index, representing small and medium-sized stocks, rose 1.15%.

Robotics concept stocks performed strongly today, with HOGE, TPK-KY, YING HAN, LO-SHENG, IKKA-KY, BIN TAI, GLOBAL TRADING, GRAND WIN PRECISION TECHNOLOGY, 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 US Philadelphia Semiconductor Index. The decline was concentrated in the semiconductor-related sectors, but apart from sectors like memory, other technology stocks did not perform weakly.

He pointed out that although US 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 rose, 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-shaped consolidation pattern. (Editor: Yang Lan Xuan) 1150702

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