TAIPEI (Taiwan News) — The Taiwan stock market opened lower Tuesday (Oct. 8) following the decline of all four major US stock indices, dropping nearly 300 points to 22,418.38 at its lowest.
The market's decline slowed during the trading session, but the index still fell over 100 points, struggling to stay above the 22,500-point mark. The three major weighted stocks, including Taiwan Semiconductor Manufacturing Company, Foxconn, and MediaTek, experienced declines, while TSMC successfully held above NT$1,000 (US$31), per CNA.
Analysts attributed the decline in the Taiwan stock index to the sell-off in Chinese concept stocks on Tuesday and the drop in US stocks. The short-term moving average continued to trend downward.
Ahead of TSMC's upcoming investor conference on Oct. 17, CPO (Co-Packaged Optics) silicon photonics concept stocks have surged. IET-KY reached its daily limit of NT$91.6, while Fiber Optic Communications (FOCI) experienced a growth of over 8%.
Loop Telecom, after reaching the daily limit, experienced a slight pullback but still closed with a gain of over 6%. In the semiconductor equipment sector, Hauman Technologies climbed about 5%, while Scientech and Easy Field Corporation saw increases of over 3%.
Despite its technology day on Tuesday, Foxconn's stock price faced downward pressure, closing at NT$194.5, a decline of NT$3. Meanwhile, MediaTek's share price dropped by NT$20 to NT$1230. At the same event, Benjamin Ding (丁肇邦), CEO of Foxconn's subsidiary Ingrasys, announced the strong market demand for NVIDIA's Blackwell platform, per UDN Money.
The company is building the world's largest production facility for GB200 servers. NVIDIA has confirmed that these servers are already being manufactured at Foxconn's Mexican plant.
