Record-breaking surge fails to lure back foreign investors, who continue 13-day sell-off, heavily cutting panel giants

Taiwan's stock market surged 1,783 points today (21st), marking the largest single-day gain in history and reclaiming the 44,000-point threshold. However, foreign investors remained on the selling side, offloading TWD 4.3 billion worth of shares for the 13th consecutive trading day, with significant cuts to panel makers Innolux and AU Optronics—the so-called 'panel twins.' In contrast, domestic institutional investors bought TWD 17.2 billion, extending their buying streak to 20 consecutive days, primarily adding to financial holdings. UMC was sold down by both foreign and domestic funds.

Foreign investors' top buys included the actively managed ETF 'Uni-President Taiwan Equity Growth (00981A)' with 56,000 lots, followed by 'Uni-President Upgrade 50 (00403A)' with 43,700 lots. Among individual stocks, Mega Financial Holding led with 23,700 lots bought, followed by Hon Hai Precision (22,600 lots), E.Sun Financial Holding (22,000 lots), EVA Airways (19,800 lots), and China Steel (19,300 lots). Others included Taichung Bank (18,100 lots), Hanhwa Aerospace Taiwan (14,400 lots), and Wan Hai Lines (13,900 lots).

On the sell side, foreign investors dumped 62,900 lots of Innolux, the highest among all stocks, followed by AU Optronics with 23,200 lots. They also trimmed positions in mature-node foundries, selling 20,100 lots of Powerchip and 11,300 lots of UMC. Other notable sell-offs included Nanya Technology (23,500 lots), Taishin & Shin Kong Financial Holding (21,300 lots), and Nanya Plastics (15,700 lots). In the ETF segment, foreign investors sold U.S. Treasury-linked products, including 30,200 lots of 'Cathay 20-Year U.S. Treasury Bond (00687B)' and 12,200 lots of 'Yuanta 20-Year U.S. Treasury Bond (00679B)'.

Domestic institutional investors focused their buying on financial stocks: Chang Hwa Bank (12,900 lots), Taishin & Shin Kong Financial (11,800 lots), SinoPac Financial (11,700 lots), First Financial Holding (8,637 lots), Hua Nan Financial Holding (8,414 lots), and兆豐 International Holding (6,435 lots). They also bought into traditional sector leaders such as Uni-President Enterprises (4,706 lots), Nanya Technology (8,437 lots), and Hsing Fu Fa Construction (7,055 lots). Additionally, they added 3,248 lots of 'Yuanta Taiwan Top 50 (0050)'.

On the sell side, domestic institutions offloaded 11,200 lots of Holtek Semiconductor, 6,127 lots of UMC, 5,553 lots of Mega Financial, 5,080 lots of Capital Securities, 4,569 lots of Winbond Electronics, 4,142 lots of Inventec, 3,773 lots of Walsin Technology, 3,510 lots of Acer, and 3,504 lots of EVA Airways.