TAIPEI (TVBS News) — Taiwan Stock Exchange (TWSE) closed lower on Friday (Nov. 7), with the benchmark index dropping 248.04 points to 27,651.41, falling below the monthly average of 27,717. Concerns over high valuations of artificial intelligence-related companies contributed to the decline. Investors saw the broader market decrease by 0.89% as major indices faced pressure.
Throughout the week, the market fell 581.94 points, breaking a 10-week winning streak. Electronics stocks dropped 0.97%, semiconductors fell 0.57%, and financials declined 0.78%. The over-the-counter index, representing small and medium-sized stocks, retested its quarterly average, ending 1.24% lower. Key electronics stocks such as Taiwan Semiconductor Manufacturing Company Ltd. (TSMC, 台積電) dropped by 0.34% and closed at NT$1460. Meanwhile, Hon Hai Precision Industry Co., Ltd. (Foxconn, 鴻海) also experienced losses, closing at NT$244, a decrease of 2.33%.
Investor anxiety over AI valuations led to significant declines in concept stocks. Quanta Computer Inc. (廣達) fell 2.05% to 287 NT dollars, Wistron Corporation (緯創) dropped 3.17% to 137.5 NT dollars, and Wiwynn Corporation (緯穎) plummeted 5.67% to 4,075 NT dollars. ASPEED Technology Inc. (信驊), despite being included in the MSCI global standard index, saw its shares weaken, closing 2.15% lower at NT$5,685. Fubon Financial (富邦金控) noted that since late October, the index has surged but faced selling pressure, with foreign investors selling for five consecutive days. They expect the index to remain weak as momentum cools.