TAIPEI (Taiwan News) — Taiwan's stock market experienced a volatile day Wednesday (Oct. 30), opening higher on the strength of gains on the US Nasdaq Composite and PHLX Semiconductor Sector indexes but closing below the 22,900-point mark, a significant 314.88-point swing.

The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) ended the day down 106.16 points at 22,820.43. Total turnover reached about NT$328 billion (US$10 billion), per CNA.

Taiwan Semiconductor Manufacturing Co. (TSMC) closed at NT$1030, down NT$10. Foxconn edged up 0.95% to NT$211.5, while MediaTek declined 0.77% to NT$1290.

Foxconn's subsidiary Foxconn Technology closed at the daily limit of NT$80.6. Investors rotated into the integrated circuit (IC) design sector.

EMemory Technology and Speed Technology also experienced growth, ending the day at NT$3190 and NT$4200, respectively, increases of 2.57% and 3.83%.

Despite a morning rebound, investor sentiment remains cautious due to the upcoming US presidential election, Taishin Securities Investment Advisory Co. Vice President Huang Wen-ching (黃文清) noted. Huang sees Google's solid earnings and post-market rally as a positive for Taiwan's AI stocks.

The three major institutional investors, foreign investors, and Chinese investors sold about NT$3.95 billion in shares. Self-traders sold NT$3.9 billion, while investment trusts bought NT$2.8 billion, according to CNA.