TAIPEI (TVBS News) — Taiwan's stock market plunged 691.19 points to 26,756.12 Tuesday (Nov. 18), marking a 2.52% drop amid geopolitical tensions. Trading value reached NT$640.394 billion (around US$20.7 billion) as the weighted index opened at 27,310.4 points before closing at session lows.
Paper stocks suffered worst losses, plummeting 2.88%, followed by machinery and electronics down 2.85%. Major tech stocks declined with Foxconn (鴻海) closing at NT$230 (around US$7.42), down NT$6 (around US$0.19), and MediaTek (聯發科) ending at NT$1,170 (around US$37.74), down NT$60 (around US$1.94).
President Donald Trump said Monday that Taiwan was stealing chip business and manufacturing would return to the U.S. Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) shares plunged NT$40 (around US$1.29) to close at NT$1,405 (around US$45.32). Analysts await Nvidia earnings and U.S. nonfarm payroll data Thursday (Nov. 20) to gauge market direction.
Investors placed 23.58 million buy orders against 13.64 million sell orders with 10.27 million shares traded. Market breadth showed 924 companies fell while only 100 rose and 53 remained unchanged. Powerchip (力積電), Winbond (華邦電), and Yuanta Taiwan Top 50 ETF (元大台灣50) led trading volume.