29.04.202604:11:37UTC+00Taiwan Stocks Extend Losses on Profit-Taking

The TAIEX, Taiwan’s benchmark stock index, fell 156 points, or 0.5%, to 39,365 in Wednesday morning trading, mirroring overnight losses on Wall Street amid signs of weakness at OpenAI and rising oil prices. The broader market declined for a second consecutive session as investors locked in profits after the index hit a record high for the second time in a week and, for the first time intraday on Monday, broke through the psychologically important 40,000 level. Sentiment was further dampened by caution ahead of the US Federal Reserve’s monetary policy decision later in the day.

The pullback was led by contract chipmaker TSMC— which represents more than 40% of the market’s total capitalization— slipping 0.7%. Electronic technology and technology services shares also pressured the index, with notable early decliners including ASE Technology Holding (-2.7%), MediaTek (-1.7%), and Hon Hai Precision Industry (-0.4%).