Taiwan Market Opens 322.88 Points Higher as TSMC Reclaims NT$2,300

By Tom Whitfield

Taiwan’s weighted stock index opened at 43,630.42 points on Nov. 4, up 322.88 points, or 0.75%, after several consecutive sessions of weakness. Trading stayed near the highs, including a 305-point gain to 43,568, while estimated turnover was about NT$900 billion, or $27.4 billion. The separate Taipei Exchange index reached 346.62 points, up 1.07 points, or 0.32%.

What powered the rebound?

Semiconductor and AI supply-chain stocks supplied most of the early buying. Taiwan Semiconductor Manufacturing opened at NT$2,310, up NT$15, and later reached NT$2,315 during the session. Market participants viewed NT$2,300 as a stabilizing reference for the broader index.

• MediaTek opened at NT$3,740, up NT$65, or 1.77%.
• Hon Hai opened at NT$247.5, up NT$2.
• United Microelectronics opened at NT$107.5, up NT$4.5, or more than 2%.
• Delta Electronics opened at NT$1,290, up NT$20.

AI-themed trading was mixed but mostly higher. Elite Material surged more than 5% to NT$4,620, and eCloudvalley gained more than 4%. Teco, Gold Circuit Electronics, Innodisk, Taiyo Ink and Wiwynn each advanced by roughly 1% to 2%. The early rally therefore depended on a narrow group of technology leaders rather than broad participation.

What triggered the prior selloff?

The rebound followed a sharp correction in the previous U.S. session, the first trading day of November. Signs of a breakthrough in U.S.-Iran peace talks pushed international oil prices lower, and President Donald Trump signaled that talks with Iran could resume. Even so, selling pressure persisted in semiconductor and large-cap technology stocks, while most of the four major U.S. indexes fell.

The Philadelphia Semiconductor Index dropped 3.37% for the day. That decline showed that favorable oil-price news had not restored appetite for technology shares. The combination left Taiwan’s opening technical position firmly negative.

How deep did the correction run?

Taiwan index futures fell as much as 917 points, or 2.03%, in after-hours trading and closed at 44,310. Taiwan’s cash index then opened 438.55 points lower on Nov. 3, at 44,481.59. It fell to 44,152.77 intraday, a 767.37-point loss, and narrowly held above 44,000.

TSMC opened down NT$30 at NT$2,300 and briefly dropped below that level to NT$2,295. Hon Hai, MediaTek, Quanta Computer, Delta Electronics and ASE Technology Holding also weakened. Largan Precision fell NT$190 to open at NT$5,300. The synchronized decline showed that the correction extended beyond TSMC to major electronics and technology suppliers.

Why did buying return, and can it last?

Market participants said the buying on Nov. 4 reflected both a technical rebound after the short slump and close attention to the U.S. midterm elections. They described the backdrop as “a wait-and-see mood” because election results could shape future fiscal and industrial policy. They also identified whether trading volume could expand as the key measure of whether the rebound could last.

Financial shares offered little confirmation. Fubon Financial Holding and Cathay Financial Holding opened flat at NT$154 and NT$113, respectively. CTBC Financial Holding slipped NT$0.2 to NT$74, and Mega Financial Holding slipped NT$0.1 to NT$53.1. The flat and lower openings indicated that money had not spread across the market, leaving momentum concentrated in electronics heavyweights.

Institutional investors expect Taiwan stocks to remain tied to three near-term forces: U.S. technology shares, international oil prices and developments in the Middle East. They also advised investors to watch trading volume and foreign capital flows. The next test for sector pricing is whether renewed buying in TSMC and AI-linked suppliers can attract stronger turnover and foreign inflows while TSMC holds above NT$2,300.