TAIPEI (Taiwan News) — Taiwan’s stock market closed lower Friday (Nov. 29), dragged down from a 100-point gain by TSMC shares.
The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed down 36.4 points at 22,262.5. Turnover totaled NT$306.1 billion (US$ 9.4 billion), per CNA.
The wave of decline broke below both the monthly and quarterly moving averages. However, Hua Nan Securities Investment Management Director Chu Hsiang-sheng (儲祥生) said there is underlying support for the market.
Chu expressed optimism that foreign investors would resume buying Taiwanese stocks as long as the US stock market remains stable. He suggested that despite US President-elect Donald Trump's tariff proposals, it's unlikely a businessman would make self-harming decisions.
While large-cap electronic stocks such as TSMC weighed on the market, other electronic stocks performed well. This indicates that overall market sentiment has not weakened, Chu added.
TSMC traded sideways throughout the session, closing down NT$9 (28 cents) at NT$996 (US$30.7) after a large sell order reversed its earlier gains. Foxconn and MediaTek finished flat at NT$195.5 and NT$1,255, respectively.
Semiconductor intellectual property concept stocks outperformed the market. Faraday Technology gained 2.07% to NT$222, Global Unichip rose 3.48% to NT$1,190, eMemory Technology closed at NT$2,915, up 3.92%, Alchip Technologies finished at NT$2,215, up 3.5%, and M31 surged 6.98% to NT$720.
The rapid evolution of electronic devices demands intricate designs and cutting-edge engineering. Developing these sophisticated products, particularly in the semiconductor industry, requires substantial resources and specialized expertise, according to UDN Money.
IP is fundamental to the industry. It encompasses the intellectual property rights tied to the design and development of integrated circuits.
Major brands and integrated device manufacturers often possess innovative product concepts but might lack the resources for component design. Acquiring pre-designed IP modules from vendors can expedite product development and reduce costs.
