TAIPEI (Taiwan News) — Taiwan's stock market closed down Thursday, marking its worst New Year's opening performance in nine years.
The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed down 203.04 points at 22832.06. Turnover totaled NT$369.89 billion (US$11.24 billion), per CNA.
Foreign investors net sold NT$27.5 billion. Heavyweights like TSMC, Foxconn, and UMC were among the top 10 net sells.
The market faces mixed bullish and bearish factors in January. Key events include the US CES trade show on Jan. 6, Nvidia CEO Jensen Huang's (黃仁勳) Taiwan visit in mid-January, TSMC's earnings call on Jan. 16, US President-elect Donald Trump's inauguration on Jan. 20, and the US Federal Reserve's interest rate decision on Jan. 29, according to CTEE.
The electronics sector index dropped 1.24%, with TSMC losing NT$10 to close at NT$1,065, dragging the broader market down by about 80 points. Heavyweights like Foxconn, MediaTek, Quanta Computer, Delta Electronics, and ASE Technology Holding also ended lower.
Traditional industries struggled. Machinery, glass, and steel sector indices dropped over 1%.
Container shipping stocks like Yang Ming Marine Transport and Wan Hai Lines, along with airline stocks China Airlines and Eva Air rose, lifting the shipping sector index by 1.8%. Tourism and hotel sectors outperformed, bolstered by positive policy news.
Analyst Wang Chao-li (王兆立) noted US market weakness, with the Dow below its quarterly moving average and the PHLX Semiconductor Sector nearing its yearly moving average, per CNA. This makes it hard for Taiwan stocks to maintain independent strength, Wang said.