Shares ended flat yesterday, with caution over recent weakness in the US market countering gains in some non-technology and liquid-crystal-display stocks.
The TAIEX fell 0.03 points to 6,380.00, on turnover of NT$89.07 billion (US$2.79 billion). Advancers outnumbered decliners 430 to 421, with 155 stocks unchanged.
"The US market's recent pullback has prompted investors to unwind their positions in some tech heavyweights," said Jeffrey Cheng, an analyst at Yuanta Core Pacific Capital Management (元大京華投顧).
The local technology subindex was off 0.2 percent as most local chip stocks finished weaker on a continued correction after the main board hit a 15-week high last week.
Market-heavyweight Taiwan Semiconductor Manufacturing Co (
"There were signs foreign institutional investors continued to pocket their gains from these two heavyweights," Cheng said.
Liquid-crystal-display panel makers gained ground, helping curb losses in the tech sector.
AU Optronics Corp (
Shares in Compal Communications (
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Vanguard International Semiconductor Corp (世界先進) and Episil Technologies Inc (漢磊) yesterday announced plans to jointly build an 8-inch fab to produce silicon carbide (SiC) chips through an equity acquisition deal. SiC chips offer higher efficiency and lower energy loss than pure silicon chips, and they are able to operate at higher temperatures. They have become crucial to the development of electric vehicles, artificial intelligence data centers, green energy storage and industrial devices. Vanguard, a contract chipmaker focused on making power management chips and driver ICs for displays, is to acquire a 13 percent stake in Episil for NT$2.48 billion (US$77.1 million).
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