Taiwan Stocks Close Down 274 Points, Foreign Investors Sell NT$89 Billion, ETFs a Focus of Adjustment

Taipei, Jul. 2 (CNA) The Taiwan stock market opened lower and fluctuated today, closing down 274.83 points at 46744.16, with a turnover of NT$1.01636 trillion. After ending a six-day selling streak to turn into a net buyer yesterday, foreign investors were net sellers again today, offloading NT$89.046 billion. Among the top 10 stocks sold by foreign investors, five were ETFs and three were financial stocks. The actively managed Yuanta Taiwan Top 50 ETF (00988A) saw over 50,000 units traded, topping the list. Hon Hai Precision Industry Co., Ltd. (Foxconn), a constituent stock, was also adjusted, ranking eighth.

Observing the movements of major institutional investors, proprietary traders sold NT$4.328 billion, investment trusts bought NT$9.119 billion, and foreign and Chinese investors sold NT$89.046 billion. In total, major institutional investors sold NT$84.255 billion.

Among the top 5 stocks sold by foreign investors, the actively managed Yuanta Taiwan Top 50 ETF, with 58,419 units, was the highest. It was followed by AU Optronics with 46,140 units. The rest, in order, were Yuanta Taiwan 50 Leveraged 2x ETF (00631L), Mega Financial Holding, and First Financial Holding.

Among the top 5 stocks bought by foreign investors, Walsin Lihwa Corporation, with 41,390 units, was the highest. It was followed by Fubon Financial Holding with 37,126 units. The rest, in order, were Formosa Chemicals & Fibre Corporation, Cathay Financial Holding, and Formosa Plastics Corporation.

Senior securities analyst Chien Po-yi stated that the current Taiwan stock market is in a high-level volatile trend, with rapid sector rotation. This is mainly because the index is at a relatively high level, and the market sentiment is strongly geared towards short-term trading. Today's strong stocks may quickly become tomorrow's weak stocks.

He pointed out that funds today shifted towards low-base sectors, including petrochemicals and military industries. The overall market sentiment is one of "cautious apprehension," with investors tending to operate conservatively. The market is focusing on the investor conference to be held by Largan Precision Co., Ltd. on the 9th and the investor conference by Taiwan Semiconductor Manufacturing Co. (TSMC) on the 16th. The outlook provided by these two companies will influence market expectations for future performance and the Taiwan stock market's trajectory.

Chien Po-yi believes that although the market is predicting the Taiwan stock market to reach the 50,000-point mark, judging from recent foreign investor movements, they turned from net sellers to net buyers only yesterday and resumed selling today, indicating a conservative attitude. The Taiwan stock index is at a relatively high level, and the short-term trend may be volatile. (Editor: Lin Chia-han) 1150702)