TAIPEI (TVBS News) — Taiwan's stock market rebounded on Tuesday (Jan. 14) after a steep drop of over 500 points the previous day. The market opened with a 58-point increase, reaching 22,573 points, and quickly expanded its gains to over 100 points, touching 22,637 points. Investors remain cautious due to U.S. President-elect Donald Trump's upcoming inauguration on Jan. 20, and the year-end market closure countdown.
TSMC (台積電) saw an early rise of NT$15, trading at NT$1,090. In the electronics sector, stocks showed mixed performance. MediaTek (聯發科) continued its decline, dropping NT$5 to NT$1,385, while Hon Hai Precision (鴻海) rebounded by NT$1 to NT$172.5 after falling below NT$180 the previous day. Wiwynn (緯穎) decreased by NT$15, trading at NT$2,410.
International crude oil price increases have positively influenced the Formosa Plastics Group's stocks. Formosa Petrochemical Corp. (台塑化) rose by 0.57%, Formosa Plastics Corp. (台塑) by 2.16%, Nan Ya Plastics Corp. (南亞) by 2.79%, and Formosa Chemicals & Fibre Corp. (台化) by 3.33%.
Taiwan's weighted index closed at 22,488.33 points a day earlier, a drop of 523.53 points or 2.28%, with a total turnover of NT$461.469 billion. Foreign investors led a sell-off, offloading NT$54.436 billion. Concerns about Trump's tariff policies and rising bond yields, with the 10-year Treasury yield reaching 4.805%, a 14-month high, have affected U.S. markets. Reports suggest potential restrictions on AI chip exports, causing chip stocks to fall, including Nvidia's 1.97% drop and TSMC's ADR decline of 3.36%.