Foreign Investors See Value in Taiwan: Massive Buying Spree in Key Stocks

A surprising surge of foreign investment suggests a bullish outlook for Taiwanese tech giants, even amid market volatility.

The Taiwan Stock Exchange experienced a significant downturn on April 7th, closing at 19,232.35 points, reflecting a substantial drop of 2,065.87 points. Amidst this market correction, foreign investors bucked the trend, injecting a net purchase of NT$16.821 billion into the market.

Analyzing the trading data, it's evident that Hon Hai Precision Industry (2317), also known as Foxconn, received the most significant boost, with foreign investors acquiring 12,323 shares. This marks the first time in over a month, since February 17th, that foreign investors have purchased more than 10,000 shares of Hon Hai.

Additional companies benefiting from foreign investment included Innolux Corporation (3481), Quanta Computer (2382), Compal Electronics (2324), AU Optronics (2409), Taiwan Semiconductor Manufacturing (TSMC) (2330), and Delta Electronics (2308).

The day's trading began in a sea of red, opening at 20,153.57 points, down 1,144.65 points. The market dipped as low as 19,212.02 points during intraday trading, breaching the 20,000-point threshold. The closing figure of 19,232.35 points represented the biggest single-day decline, with 937 listed companies reaching their daily limit down.