TAIPEI (Taiwan News) — Taiwan stocks closed lower Thursday, reversing early gains despite a positive lead from Wall Street.
The Taiwan Stock Exchange Capitalization Weighted Stock Index, or TAIEX, lost 160.33 points to close at 19,478.81. Turnover totaled NT$241 billion (US$7.4 billion), per CNA and CTEE.
TSMC slipped 1.03% to NT$864 (US$27). Foxconn dropped 1.8% to NT$136.5, while MediaTek declined 2.92% to NT$1,330.
Biotech firm Obi Pharma announced it would halt its phase three trial of Adagloxad Simolenin, an experimental treatment for triple-negative breast cancer. The move followed a recommendation by the independent Data and Safety Monitoring Board, composed of medical and statistical experts.
Shares of Obi Pharma plummeted to the daily limit and closed locked at NT$42.2, a record low since the company was listed.
Auto-related stocks bucked the downtrend, rallying after the White House confirmed President Donald Trump is considering tariff exemptions on certain Chinese auto parts. Horng Shiue Holding and Hushan Autocrats both surged to the daily trading limit on the news.
Cybersecurity stocks extended their rally. Ares International and Azion rose over 3%, while Fortune Information Systems hit the daily limit after IC distributor WPG Holdings completed its public tender offer for the company.
Cathay Securities Investment analyst Tsai Ming-han (蔡明翰) said the broader market remains volatile, and further pullbacks cannot be ruled out. He attributed the heightened fluctuations to ongoing concerns about the potential impact of chip-related tariffs.
Senior analyst Chien Po-yi (簡伯儀) said Taiwanese stocks have rebounded in step with Wall Street. As first-quarter earnings roll in and tariff fears ease, he expects strong results from most companies, potentially helping the market test resistance at its monthly moving average and the 20,000-point level.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.
