The TAIEX, Taiwan’s benchmark stock index, tumbled 1,374 points, or 3.2%, to close at 41,574 on Thursday, marking its sixth straight session of losses. The decline was led primarily by the electronics and technology sector, which dropped 3.6%, as persistent worries over massive capital outlays for AI infrastructure weighed on sentiment. The broader market hovered near its lowest level since July 30.
Investors were also cautious ahead of the release of October inflation data after the market close. Still, easing oil prices helped contain the downturn by tempering inflation concerns and reducing expectations of further interest rate hikes. A positive performance on Wall Street overnight, following Democrats’ victory in regaining control of Congress, also helped prevent deeper losses.
Major index heavyweights slumped across the board. MediaTek slid 6.9%, Delta Electronics dropped 7.4%, and ASE Technology sank 8.8%, while Hon Hai Precision fell 2.1%. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker and a bellwether that represents more than 40% of the market’s total capitalization, edged down 0.9%.
