Tech and Traditional Stocks Weaken: Taiwan Stocks Turn Negative After Hitting Record High, Breaking Below 5-Day Line

(Central News Agency reporter Chang Chien-chung, Taipei, 23rd) The Taiwan stock market experienced intense volatility today. The index climbed to 38,921.95 points in early trading, setting a new all-time high. However, as tech stocks turned from red to black and traditional industry stocks declined, the index also turned negative, plunging to 37,232.95 points and breaking below the 5-day moving average.

By 10:45 AM, the Taiwan Stock Exchange Capitalization Weighted Stock Index was at 37,299.44 points, down 579.03 points, with a trading volume of NT$915.9 billion.

TSMC's American Depositary Receipts (ADR) surged over 5% on the 22nd. TSMC's stock price hit a new astronomical high of NT$2,135 in early trading today. However, as selling pressure emerged, the gains narrowed, and the stock price fell to a low of NT$2,055.

Heavyweight tech stocks such as Delta Electronics, MediaTek, Quanta, and high-priced stock ASPEED all saw declines, causing the overall electronics sector index to turn negative, dropping over 1%.

Traditional industry stocks broadly declined, with the glass sector index tumbling over 7%, and the plastics sector index falling more than 5%. Indices for food, textiles, electrical machinery, cables, paper, steel, rubber, automobiles, shipping, and tourism all fell by more than 1%. (Editor: Lin Chia-hsien) 1150423