Taiwan stock market falls below 49,000 as TSMC shares drop

The Taiwan stock market opened with a significant drop of over 500 points following the National Day holiday, falling below the 49,000 mark to approximately 48,799.70.

TSMC, a major heavyweight in the index, saw its opening price drop by 35 TWD to 2,520 TWD, breaking below its 10-day moving average. This decline follows a period where the Philadelphia Semiconductor Index fell by 3.77% and TSMC ADRs dropped by approximately 4%. Investors are now looking toward TSMC’s upcoming earnings presentation scheduled for later this week.