TAIPEI (Taiwan News) — Taiwan's stock market opened lower Friday, struggling for momentum despite some support from the networking and semiconductor sectors.
The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed down 26.32 points at 23,020.48. Turnover totaled NT$342.58 billion (US$10.5 billion), per CNA.
The electronics index rose 0.15%, the shipping sector gained 0.14%, while the financial sector dropped 0.34%. Traditional industries fared worse, with plastics down 2.5% and construction, steel, and biotech sectors all losing more than 1%.
TSMC edged up 0.47% to NT$1,065 (US$32.8). MediaTek climbed 2.17% to NT$1,410, while Foxconn slipped 1.06%.
Networking leader Accton Technology peaked intraday at NT$762. Buoyed by record revenue for four months and its association with Broadcom concept stocks, it closed up 4.78% at NT$746.
US networking chip giant Broadcom saw its stock price rise more than 6% Wednesday, ahead of its earnings report. This follows a target price and outlook upgrade from foreign institutional investors, according to Commercial Times.
The increase was also fueled by market speculation that Broadcom is collaborating with Apple to develop chips specifically for AI servers. The chip is expected to enter mass production in 2026 and will be manufactured using TSMC's leading 3nm process.
The share prices of 15 Taiwanese Apple suppliers, including Compeq Manufacturing, Largan Precisions, and Auras Technology all saw rises Thursday.
Stocks priced at over NT$1,000 generally saw gains. Aspeed Technology increased by 1.31%, eMemory Technology rose by 1.55%, and Alchip Technologies gained 5.65%.
Shipping stocks offered stability as container shipping firms Yang Ming, Evergreen Marine, and Wan Hai all closed higher.
Investor caution has prevailed ahead of next week’s US Federal Reserve interest rate decision, Cathay Futures consultant Tsai Ming-han (蔡明翰) noted. Combined with recent declines in Nvidia's stock, Taiwan's AI and electronics sectors sentiments have dampened.
