Taiwan Stock Market Opens: Weakness in TSMC and Other Heavyweights Leads to Flat Trading

The Taiwan stock market opened at 45,240.3 points on February 24, up 16.01 points. The weighted index fluctuated around the flat line as TSMC, MediaTek, and Foxconn, among other electronic heavyweights, showed weakness. Market capital flowed into memory, shipping, and passive component sectors. Early trading saw the estimated daily volume shrink to less than 700 billion yuan.

Major heavyweights showed mixed movements. TSMC fell by about 10 points, a drop of approximately 0.5%, and is currently trading at 2,400 points. MediaTek fell by 15 points, a drop of approximately 0.4%, and is currently trading at 3,775 points. Foxconn showed a slight decline, while Delta Electronics, Quanta Computer, and Largan Precision fluctuated above the flat line.

The memory sector saw the most active buying, with Crystalwise surging over 9%, Powerchip rising over 4%, Nanya Tech, and Novatek Microelectronics each rising about 3%, and South Asia Tech rising over 1%. HannStar Board also maintained a red chip.

The shipping sector continued its strong performance from the previous trading day, with Wan Hai, HY Shipping, and Yang Ming each rising nearly 4%, Evergreen rising about 3%, and New Century rising over 2%. Yang Ming and Evergreen also rose by about 1%.

The passive component sector also attracted market capital, with Giga, Lite-On, and Wistron each rising over 2%, and Chiyuan, and Chicony each rising over 1%. Apex International also maintained a slight rise.