Taiex Slides at Open as Tech Stocks Weigh, Global Mood Remains Cautious
Taiwan's benchmark Taiex opened lower on April 21, dragged by weakness in tech and chip stocks, following negative cues from Wall Street.
Key Highlights:
Taiex Opens Lower on April 21 as Tech Pressure and Global Caution Drag Sentiment
The Taiex started the session in negative territory on Monday, April 21, following subdued sentiment across global indices and tech weakness. As of 9:08 AM TST (6:38 AM IST), the index stood at 19,267.46, marking a fall of 127.57 points or 0.66% from the previous close.
Opening Snapshot – Taiex Market Data
| Metric | Value |
|---|---|
| Opening Level | 19,321.14 |
| Current Level | 19,267.46 |
| Previous Close | 19,395.03 |
| Intraday High | 19,359.96 |
| Intraday Low | 19,246.28 |
| Change | -127.57 pts |
| % Change | -0.66% |
Weak Start Follows Global Tech Pullback
The Taiex’s decline mirrors weak sentiment from U.S. markets, where tech-heavy indices like Nasdaq closed lower amid hawkish Fed remarks and sticky inflation readings. With Taiwan’s market composition heavily skewed toward semiconductor and electronics majors, negative global cues weighed heavily on early trade.
Comparative Performance Across Asia (Morning Trade)
| Index | % Change | Direction |
|---|---|---|
| Taiex | -0.66% | Down |
| Nikkei 225 | -0.52% | Lower |
| Hang Seng | -0.30% | Negative |
| Kospi | +0.12% | Slightly Up |
| SSE Composite | -0.10% | Flat |
Key Sector Movements in Taiex
The technology sector, led by contract chipmakers and display manufacturers, underperformed in early trade. Other cyclical segments also felt the pinch.
Top Sector Trends at Open:
- Semiconductors: -0.8% (TSMC, MediaTek under pressure)
- Consumer Electronics: -0.6%
- Financials: -0.3% (Muted performance)
- Shipping & Industrials: Flat to slightly positive
- Defensives (utilities, healthcare): Mixed
Global Indices and Futures Movement
Despite the Kospi showing slight gains and U.S. futures trading mostly flat, Taiwan equities underperformed, reflecting localized selling in large caps and chips.
Global Futures Snapshot (as of 6:45 AM IST):
| Index | Movement | % Change |
|---|---|---|
| Dow Futures | Flat | -0.10% |
| Nasdaq Futures | Flat | +0.02% |
| S&P 500 Futures | Slightly down | -0.08% |
Market Forecast – Can Taiex Recover Intraday?
The Taiex may find technical support near the 19,200–19,220 zone. However, if TSMC continues to decline or the U.S. futures slide further, deeper losses can’t be ruled out. Watchpoints for today include:
- Taiwan dollar movement vs USD
- Inflows from foreign institutional investors (FIIs)
- Comments from central banks (Fed, PBOC)
- Any signs of stabilization in chip prices
Global Sentiment Ahead
With tech earnings, U.S. GDP and inflation data lined up this week, global indices are likely to remain volatile. For Taiex, any signs of strength in chip ADRs or easing in bond yields may trigger a short-covering rally later today or tomorrow.
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