TAIPEI (Taiwan News) — Taiwan stocks fell Thursday (Aug. 8), with its Taiwan Capitalization Weighted Stock Index (TAIEX) closing 425.18 points lower at 20,870.10.

The market lost the six-month moving average of 21,110 points that it had regained a day earlier. Turnover reached NT$404.501 billion (US$1.244 billion), per CNA.

The decline was fueled by a slump in AI stocks like Nvidia and Super Micro Computer. The smaller TPEx Exchange Capitalization Weighted Stock Index fell 0.45% to 246.71.

Taiwan’s three major tech giants also declined. Taiwan Semiconductor Manufacturing Company (TSMC) fell 2.61% to NT$896. Foxconn dropped 4.11% to NT$163.5, while MediaTek declined 3.04% to NT$1,115.

Cathay Securities Investment Consulting manager Tsai Ming-han (蔡明翰) said the stock market fell Thursday because foreign investors sold shares and the U.S. market is weak. Tsai advised investors to remain cautious until U.S. stocks are more stable.