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Taiwan Stocks Dip as Investors Take Profits
10 Sep
Summary
- Taiwan's benchmark stock index declined by 0.47% on Tuesday.
- Semiconductor IP, probe card, and biomedical sectors bucked the trend.
- Investors are watching August revenue figures for market direction.
Taiwan's benchmark stock index, the TAIEX, closed Tuesday down 0.47% at 47,105.78, with a turnover of NT$876.7 billion (US$27.8 billion). This movement followed a period of profit-taking in several heavily weighted sectors, including technology and automation stocks.
However, certain sectors bucked the market's decline. Probe card makers like WinWay Technology and Mpi saw gains, benefiting from their role in testing semiconductor wafers to identify defects. Semiconductor intellectual property providers also performed well, driven by accelerated orders from cloud service providers for custom chip designs.
Memory chip manufacturers, including Winbond Electronics and Nanya Technology, advanced amid strong AI server demand, leading to tightened supply and increased prices for DDR5 and NAND flash. The biomedical sector also attracted attention, with companies like Energenesis Biomedical reporting strong August revenues.
Financial stocks also saw investor interest as a safer haven during market volatility. Fund managers are advising investors to watch August revenue reports and consider buying dips in sectors with strong earnings prospects, such as optical communications and advanced semiconductor processes.
