How did Taiwan's stock market indices perform today?

The weighted index fell 0.52% to 42,449.70; the OTC index dropped 2.62% to 368.53 points.

Why did flexible PCB-related stocks rise?

Demand for high-frequency antennas in AI servers and premium vehicles boosted shipments of copper-clad laminates and PI films.

What drove strong performance in IP design firms?

Growing demand for AI and automotive chip designs increased licensing revenue from major cloud providers.

Why did MLCC stocks decline?

Sluggish consumer demand and broader semiconductor market corrections led to valuation adjustments.

Which sectors should investors watch next?

High-value components for AI infrastructure and autonomous vehicles, especially IP and materials, remain key focus areas.

Taiwan Stock Market Pre-Opening | Flexible PCB and Defense Stocks Resist Declines, Weighted and OTC Indices Retreat on Low Volume to Defend 120-Day MA

Published Jul 21, 2026 10:02 AM ・ Updated Jul 21, 2026 10:08 AM ・ 5 min read ・ Source: PR Times

On July 20, Taiwan's stock market closed lower amid mixed performance. The weighted index fell 0.52% to 42,449.70 with turnover of NT$1.02 trillion. While flexible PCB upstream materials and design IP stocks surged, MLCC and quartz component sectors corrected. Institutional investors showed divergent moves, with foreign investors selling and local trusts buying aggressively.

I. Market Analysis

On July 20, Taiwan's stock market fluctuated and closed lower. The weighted index declined 0.52% to close at 42,449.70 points, with turnover of NT$1.017 trillion. The three major institutional investors collectively bought NT$501 million worth of stocks, with foreign investors selling NT$6.084 billion and investment trusts buying NT$14.649 billion. Both the main exchange and the over-the-counter (OTC) market showed a cautious, low-volume downtrend. Upstream materials for flexible PCBs and design IP stocks stood out, while passive components such as MLCCs and quartz components corrected. The OTC index fell 2.62% to close at 368.53 points, with late-session buying emerging to defend the 120-day moving average (120MA).

II. Strong Sectors

· Upstream Flexible PCB Materials (High-Frequency Antenna Demand):

Driven by new product launches in the second half and rising adoption of AI servers and high-end automotive antennas, demand for copper-clad laminates and PI films has surged. Key stocks include Asia Pacific (4939) (up 9.97% to limit-up), with Taimex and Taimai showing resilience.

· Design IP (AI-Related Revenue Hits Record High):

Strong demand for AI and automotive chip designs has led some firms to recognize licensing revenue from major cloud service providers (CSPs). Andes Technology (6533) surged 10.00% to limit-up, with monthly revenue up 247% year-on-year, setting a new historical high.

III. Weak Sectors

· MLCC Passive Components (Valuation Correction):

Sluggish recovery in end-consumer demand, coupled with global semiconductor market corrections, has shaken investor confidence, prompting aggressive profit-taking. Key stocks such as Miraizon (8043) (-3.90%), Nippon Denso (3090), Sunlord Electronics (6173), and Yageo (2327) faced downward pressure.

· Quartz Components (Sharp Pullback):

After significant prior gains, profit-taking and forced liquidations emerged as broader electronics stocks retreated. Key stocks include Taishe (3221) (-5.92%) and KDS (3042) (-6.82%).

IV. Institutional Investors' Watchlist

Return to the original text to review our curated stock selection strategy!

This data is for reference only and does not constitute any investment advice. Investors should make independent judgments and bear their own risks.

FACT BOX

Source: PR Times
Category: News
Dates in source: 7/20
Products / services: MLCC

Taiwan Stock Market Pre-Opening | Flexible PCB and Defense Stocks Resist Declines, Weighted and OTC Indices Retreat on Low Volume to Defend 120-Day MA

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