TAIPEI (Taiwan News) — Taiwan's stock market experienced volatility on Thursday, with investors adopting a cautious stance due to uncertainties surrounding US President-elect Donald Trump's upcoming policies.

The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed down 35.88 points at 22,298.9. Turnover totaled NT$324.8 billion (US$9.97 billion), per CNA.

Large-cap and high-priced stocks showed mixed performance, with ASpeed Technology, MediaTek, and Quanta Computer closing in the green, and Foxconn, Delta Electronics, and Asmedia Technology ending the day in the red. The electronics sector declined by 0.1%.

Most traditional industries declined, with textiles, machinery, cables, and glass sectors falling over 1%. Construction and shipping sectors closed higher.

Major US indices, including the Dow Jones Industrial Average and Nasdaq Composite, closed lower on Wednesday. Analysts had predicted that TSMC would face downward pressure at the NT$1,000 (US$31) level on Thursday, according to CNA.

The stock briefly dipped below this level. It rebounded to close up NT$5 (15 cents) at NT$1,005.

Foxconn Chair Young Liu (劉揚偉) outlined a five-year plan to transform the company into a knowledge-driven enterprise. This three-phase plan aims to boost the company's gross profit margin from single digits to double digits.

Hotai Motor forecaste strong sales in Taiwan, expecting nearly 460,000 units sold this year. The company is aiming for a 35% market share with projected sales of 160,000 units.

Foreign investors have sold NT$802 billion in the past three days, contributing to market volatility. Mega International's Huang Kuo-wei (黃國偉) believes the market will stabilize when stock prices become less reactive to news.