The TAIEX, Taiwan’s benchmark stock index, fell 210 points, or 0.5%, to close at 45,811, reversing its morning gains and ending a four-session winning streak, pressured by weakness in electronic technology shares. The broader market pulled back from the previous day’s high — its strongest level since July 6 — as the electronic technology subindex declined 1.1%, giving up a 1.5% advance from the prior session.
TSMC, the world’s largest contract chipmaker and accounting for more than 40% of the TAIEX’s total market capitalization, slipped 1.6% after rising 0.8% on Thursday. Other major tech names also retreated, including MediaTek (-0.4%), Hon Hai Precision Industry (-1.0%), and ASE Technology Holding (-1.6%). Nanya Technology, a leading Taiwanese memory chip producer, eased 0.4%.
Losses were tempered by a positive session on Wall Street overnight, as softer inflation data reduced expectations of a Federal Reserve interest rate hike at its September meeting. Despite Friday’s pullback, the TAIEX still advanced 3.6% for the week, marking its second consecutive weekly gain.
