Foreign investors sold off NT$12.9 billion, adjusting high-yield ETFs and semiconductor stocks, while shifting to financial stocks as a safe haven.Jump to latest

By admin Apr 22, 2024

The Taiwan stock market saw fluctuations today, with a closing drop of 115.9 points to 19,411.22 points. Despite foreign investors continuing to sell off NT$12.9 billion worth of stocks, the Taiwan Futures Exchange witnessed short covering activities, showing a different trend. In terms of individual stocks, foreign investors adjusted their holdings in major semiconductor companies and notably sold off ETFs with high yields while increasing their positions in the financial sector.

Observing the market trends of the three major institutional investors today, foreign investors sold off NT$12.954 billion in shares for the 9th consecutive day; proprietary traders sold off NT$5.65 billion; however, mutual funds were the lone buyers with NT$7.168 billion in net purchases, resulting in a combined net sell-off of NT$11.436 billion. Nonetheless, foreign investors covered short positions in Taiwan Index Futures by 2,638 contracts, reducing their net short positions to 16,400 contracts.

Foreign investors increased their holdings significantly in Shin Kong Financial Holding Co. by 26,300 shares, Cathay Financial Holding Co. and Fubon Financial Holding Co. by 17,100 shares each, Taiwan Business Bank by 15,800 shares, Cathay Financial Holdings by 11,700 shares, E.Sun Financial Holding Co. by 10,600 shares, Mega Financial Holding Co. by 10,400 shares, and Chang Hwa Commercial Bank by 10,100 shares. Additionally, they acquired 18,500 shares in Evergreen International Airlines, 11,100 shares in Formosa Petrochemical Corp., and 10,100 shares in Hon Hai Precision Industry Co.

The top selling by foreign investors was at Vanguard Taiwan Value High Dividend Fund (00929) with a sale of 51,200 shares, followed by Yuanta/P-shares TW Dividend Plus ETF (00940) with 10,600 shares, and Cathay/TW Selected Stocks High Dividend ETF (00919) with 9,263 shares.

In the semiconductor sector, major sell-offs included 43,500 shares in United Microelectronics Corporation, 8,303 shares in Taiwan Semiconductor Manufacturing Company, 19,400 shares in Wistron, 16,100 shares in Innolux, 12,800 shares in AU Optronics, 11,600 shares in Powerchip, and 15,200 shares in Capital Securities Corporation, as well as 14,900 shares in Transcend Information, 13,200 shares in Macronix International, and 11,000 shares in Chipbond.

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