Taiwan Stocks Open Lower Amid US‌ Presidential Election Uncertainty

Taiwan stocks opened lower‌ today,⁤ falling ​below 23,000⁢ points ⁣in ⁤early trading, with the intraday decline‍ extending to 486 points. TSMC fell 30 yuan, while​ Hon Hai fell more than 2%. ‍However, ‌Quanta⁢ 300 yuan in tool ⁤stocks and stay-at-home economy concept stocks‌ bucked the‌ trend and resisted declines.

As ⁢of around 11 a.m., ‌the⁢ three‌ biggest ​value stocks, including TSMC, Hon Hai, and MediaTek, fell simultaneously. TSMC hit a low ⁢of 1,020 yuan, down 30 yuan. Hon Hai fell 6 ⁢yuan, while MediaTek held 1,300 yuan. Electronic stocks ⁢and financial stocks fell 1.7% and ⁤0.9%, respectively, during the session.

Analysts⁢ noted that uncertainty over the US⁢ presidential election had clouded Taiwan’s stock market, even shutting down the semiconductor industry ⁣in the short term following the US presidential election results in early November.

The machine tool group performed well during the session, including Ende Gong’s daily ⁢limit of 20.9 yuan, Gao Feng’s⁤ price increase of ⁢more than 1%, Jiande Industrial’s price of more than 1%, and Qiaofu’s price of about 1%.

Double⁤ 11, ⁤an important period for e-commerce, and Zhai ‌economy concept stocks announced last week ​that‍ it hit a daily limit of 46.35⁤ yuan. And ​Zhaipintong daily hit the limit ⁢of ⁢45.45 yuan. Gaming ‌stock Huayi was ‌locked ⁤in a daily‍ limit of 193 ⁣yuan.

Senior analyst Jane Boye said TSMC’s ADR fell 4% as markets worried about​ US tariff policy on Taiwan after ​the election, ⁣and ​the semiconductor group ‍was suspended early. In ‌addition, ‍listed OTC companies recently announced their third quarter financial⁤ reports, many companies will be under the pressure of foreign exchange losses, which‌ has caused the market index to drop significantly in the short term, we can wait for the results⁣ of ⁣the US presidential election.