Market Rebounds Back Above Quarterly Line! Exclusive Data Reveals Lingering Margin Crisis, While Active ETFs Quietly Accumulate These Sectors?

The market rebounded to reclaim the quarterly line, but exclusive data reveals the margin crisis has not yet been resolved. Amid低迷 investor confidence, active ETF managers have already begun quietly accumulating potential stocks in sectors where ownership has been thoroughly cleaned.

〈Taiwan Stock Market Tests 600+ Point Drop; Quarterly Line Remains Key Short-Term Indicator〉

The Taiwan stock market opened lower and remained volatile throughout the session. The TAIEX index dropped as low as 42,969 points, a decline exceeding 600 points. Intraday estimated trading volume briefly fell to around NT$615.5 billion. However, buying interest emerged toward the close, limiting the final loss to 20.65 points, with volume recovering to NT$717.6 billion. The GreTai Securities Market (GTSM) successfully turned positive. TSMC (2330-TW) closed flat, while Hon Hai (2317-TW) edged slightly higher.

Although the index narrowed its losses, a small decline doesn't mean the ownership consolidation is complete. Exclusive data from Instructor Zhilin shows the number of strong-performing stocks has dropped to recent lows. Most individual stocks still face margin liquidation pressure. With insufficient trading volume, it's difficult for the market to launch a broad-based rebound immediately. Whether the index can reclaim the quarterly line remains the key short-term observation point.

〈Tech Industry Trends Unchanged; Allow Market Time for Ownership Settlement〉

Recently, international markets have temporarily lost focus on the logic of tech giants' capital expenditures and the real beneficiaries within the semiconductor supply chain, leading to a clear cooling in market sentiment. Facing technical weakness and shrinking volume, investors must exercise patience, allowing the market sufficient time to consolidate sideways and further clean up margin leverage. The mid-to-long-term trends in the tech industry have not structurally changed. Demand for AI, high-speed transmission, advanced packaging, and optical communications remains strong. However, funds are currently unwilling to make a full commitment at once. Once ownership settles and volume rebounds, the market will be better positioned to build the next upward momentum. Don’t rush to chase rebounds; instead, confirm whether industry fundamentals, technical positioning, and institutional ownership align.

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〈Optical Communications Leads the Rebound; ABF Substrate Shows Signs of Bottoming〉

Instructor Zhilin previously highlighted that the optical communications sector, after its margin maintenance ratio dropped to low levels and ownership was thoroughly cleaned, is positioned for an early rebound. Holtek (4979-TW) has shown relatively strong performance compared to the broader market. The active ETF (00981A-TW) also showed accumulation activity last week. Based on the fund manager’s past trading patterns, continued buying interest may follow. However, Holtek still faces resistance from a downward-sloping quarterly line, so profit-taking pressure must be monitored during any upward move—don’t ignore resistance just because prices are rising.

Advanced Opto-Electronic (3362-TW) saw a significant volume increase today, becoming one of the few stocks stably above the quarterly line. Largan Precision (3008-TW) has recently been actively acquiring land and facilities, which the market interprets as preparation for volume production of its CPO business. As related capacity expands, Advanced Opto-Electronic could benefit from its V-groove product advantages amid industry specification upgrades. However, monthly moving averages are still in a downward correction phase, so don’t assume a sustained strong rally in the short term.

Today, both material suppliers and key equipment providers in the ABF substrate sector turned positive. From a price-volume structure perspective, the probability of forming a bottom for this sector is increasing. The current focus isn’t on chasing prices but patiently observing whether volume, resistance at the quarterly line, and institutional buying continue. Only after ownership is thoroughly cleaned and industry trends take over can investors sustain performance in a volatile market. Investors are invited to download the 【Chen Zhilin Analyst APP】. Real-time information is shared第一时间 within the APP, helping you use data to master market timing. Weekly updates to the margin risk watchlist help you avoid risks and lock in opportunities.

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Source: Chen Zhilin Analyst / Kaixu Investment Consulting

Regarding the individual securities recommended by our company: There are no improper financial interests. Past performance does not guarantee future profits. Investors should make independent judgments, conduct careful evaluations, and bear investment risks independently.