Taiwan stock market fell 1,630 points, 10th worst in history! TSMC leads nearly 1,500 companies in a big dive, and the index breaks through 47,000
Quick Look
- Affected by doubts about interest rate hikes caused by higher-than-expected inflation data in the United States in September, Taiwan stocks plunged 1,630 points on Thursday, the 10th largest drop in history.
- TSMC led nearly 1,500 listed electronics stocks in a plunge.
- Asian stocks plummeted across the board, Korean stocks triggered a circuit breaker, and Japanese stocks plunged more than 3,200 points.
AI-generated summary
Why It Matters
Affected by U.S. inflation data for September that exceeded expectations, the market was worried that the Federal Reserve would further raise interest rates, which put pressure on interest rate-sensitive technology stocks. Asian stocks fell across the board on Thursday.
[Financial Channel/Comprehensive Report] Inflation caused concerns about interest rate hikes, and the fee and half price plummeted 4.3% on Wednesday. Affected by this, Asian stocks plummeted across the board on Thursday, and Taiwan stocks could not escape. Electronic stocks such as TSMC, UMC, MediaTek, and Nanya fell at the opening. The index fell 243.08 points at the opening, closing at 4 It opened at 8382.75 points. Electronics stocks led by semiconductors fell, and transmission and finance also fell simultaneously. The index opened lower. TSMC's 1478-digit listed counter plunged. The index fell 1630 points during the session, the 10th largest drop in history, and the index dropped to 46995 points.
U.S. inflation data for September exceeded expectations, and market concerns that the U.S. Federal Reserve (Fed) will further raise interest rates have put pressure on AI technology stocks that are sensitive to rising borrowing costs. The Dow Jones Industrial Average fell 48.62 points or 0.09%, the S&P 500 Index fell 1.11%, the Nasdaq Index fell 1.88%, the Philadelphia Semiconductor Index fell 4.3% for the sixth consecutive time, and TSMC ADR fell $15.12, 3.4%, to close at $430.
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Asian stocks plummeted across the board on Thursday, with South Korean stocks suffering the worst. With SK Hynix and Samsung Electronics plunging more than 8%, the index plummeted more than 7% at the opening, directly triggering a circuit breaker. Japanese stocks also plummeted by more than 3,200 points.
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What to Watch
AI outlook — possibilities, not facts
Taiwan stocks will continue to fluctuate and fall in the coming week
Likely · Within weeks
Asian stocks will remain risk averse ahead of next U.S. Federal Reserve meeting
Possible · Within weeks
Open Questions
- Will Taiwan stocks continue to fall in the short term?
- Will the US Federal Reserve really raise interest rates at its next meeting?
- When will electronic stocks stabilize?
