Taiwan Stock Market Opens Down: International Oil Prices Surge, Index Drops Over 500 Points, Losing 47,000 Level and 5-Day Moving Average

Escalating tensions between the U.S. and Iran have driven international oil prices above $100 per barrel for the first time since July, sparking market concerns over a higher likelihood of a Fed rate hike in September. U.S. stocks weakened on Wednesday, and Taiwan's stock market followed suit today (10th), opening sharply lower. The index dropped over 500 points in early trading, breaking below the 47,000-point threshold and the 5-day moving average. Full-day trading volume is estimated to shrink further to approximately NT$740 billion.

TSMC opened at NT$2,445, down NT$20 (0.8%), while MediaTek fell over 2%. Delta Electronics saw a monthly decline in August revenue and dropped more than half a stop-loss limit. Hon Hai and Quanta both declined 1-2%. Passive components weakened, with Yageo and Walsin Technology both falling over 3%. However, semiconductor packaging leaders ASE Holding and Powerchip rose against the trend, while Taipower and United Microelectronics managed to hold positive territory.

Among high-priced stocks, Megachips (stock king) declined, while Chuan-Hu (stock queen) traded flat with slight upward fluctuations. Semiconductor equipment-related Chroma ATE dropped 6%, and Hong Jing fell 3%. In contrast, heat dissipation-related stocks such as Jentech and Chicony Power rose, with LightOn surging over half a stop-loss limit and Aptina gaining over 3%. IC Design also strengthened.

In non-electronics sectors, despite the surge in international oil prices, the 'Four Beauties' of the Formosa Plastics Group showed weak performance, with Formosa Chemicals & Fibre leading the decline with a 5% drop. Among financial stocks, KGI, E.Sun Financial, Hua Nan Financial, and Fubon Financial showed relative resilience.