As the Philadelphia Semiconductor Index plunged by 805.4 points, Taiwan's stock market retreated today amid weakness in electronics stocks such as TSMC. The Taiwan Weighted Index fell 649.68 points early in the session, hitting a low of 45,159.51. However, the decline narrowed during mid-morning trading as plastic and financial stocks gained strength.

By 10:51 a.m., the Taiwan Weighted Index stood at 45,574.15 points, down 235.04 points, with a turnover of NT$610.6 billion.

TSMC's American Depositary Receipts (ADR) dropped 3.53%, and its share price in Taiwan followed suit, sliding to NT$2,350, a decline of NT$50. This reduced its market value to NT$6.094 trillion, dragging the broader market down by approximately 397 points. Other major electronics stocks, including MediaTek and Delta Electronics, also weakened, pushing the electronics sub-index down more than 1% during the session.

Meanwhile, financial stocks rose, with the financial sub-index gaining over 2%, driven by strength in Fubon Financial and Cathay Financial.

Traditional sector stocks showed mixed performance. The plastic sub-index surged over 6%, while glass and paper sub-indices rose more than 2%. In contrast, the rubber sub-index plunged over 6%, underperforming the broader market.

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  • Source: CNA (Central News Agency)
  • Category: Taiwan