TAIPEI (TVBS News) — Taiwan's stock market opened with a surge of 100.01 points, reaching 22,171.10, on Wednesday (March 12) as major stocks stabilized. TSMC (台積電) rose NT$9 to NT$980, while MediaTek (聯發科) increased NT$5 to NT$1,390. Hon Hai (鴻海) recovered the NT$170 mark, gaining NT$2 to close at NT$170.5, and Wiwynn (緯穎) soared NT$25 to NT$1,985.
The White House confirmed a 25% tariff on all steel and aluminum imports to the U.S., boosting related stocks. Ta Chen Stainless Pipe Co., Ltd. (大成鋼) saw a 2.65% rise with over 10,000 transactions within 10 minutes, ranking third in trading volume. CSC (中鋼) increased by 0.62%, while others like Hai Kwang (海光), Chung Hung Steel (中鴻), Tung Ho Steel (東和鋼鐵), and First Copper Technology (第一銅) also posted gains.
Taiwan's weighted index closed at 22,071.09, down 388.06 points a day earlier, or 1.73%, with a total transaction value of NT$428.933 billion. The market experienced its 13th-largest drop, dipping 689.58 points at one point. The three major institutional investors sold NT$6.1275 billion, with foreign investors leading the sell-off.
The uncertainty surrounding tariffs imposed by former President Donald Trump continues to disrupt financial markets. The White House announced Tuesday that tariffs on Canadian steel and aluminum imports would double to 50% starting Wednesday. Meanwhile, the Dow Jones fell 478.23 points, closing at 41,433.48, while other indices also declined.