Reported 3 months ago
Amid escalating rhetoric on the U.S.-China chip war before the presidential election, TSMC ADR plummeted nearly 8% on Wednesday, leading to a sharp 621-point drop in Taiwan's stock market. Market value dipped below 74 trillion yuan, evaporating nearly 2 trillion yuan within a day. Senior securities analyst Hsu Bo-chieh commented that the market might need 2-3 days to settle and bounce back next week, reassuring investors not to panic despite the plunge. The market was mainly influenced by TSMC's plunge and AI large-cap stocks following. Technical analysis suggests a short-term correction with support levels around 22000-22500 points, as trading volume surged to an estimated 690 billion yuan. Hsu highlighted the resilience in sectors like defense, shipbuilding, aerospace, telecommunications, silicon photonics, construction, and tourism amid the market downturn.
Source: YAHOO