23.06.202607:16:31UTC+00TAIEX Retreats from Record High, Ends 1.3% Lower

The TAIEX, Taiwan’s benchmark stock index, fell 641 points, or 1.3%, to close at 47,101 on Tuesday, ending a six-session winning streak as investors locked in profits after the gauge hit a record high the previous day. The broader market pulled back from Monday’s fresh peak of 47,571 — its first time above the 47,000 mark — weighed mainly by weakness in electronic technology, manufacturing, and technology services shares.

Electronic technology stocks lost 1.6%, giving back gains after a 3.1% surge in the prior session. TSMC, the world’s largest contract chipmaker and a heavyweight accounting for more than 40% of the market’s total capitalization, slipped 0.8% following a 3.1% jump on Monday. The stock had rallied after reports that the company is accelerating deployment of its CoWoS technology, which replaces traditional round wafers.

Among other major names, Delta Electronics dropped 3.2% and Hon Hai Precision Industry fell 3.4%, reversing Monday’s respective advances of 0.9% and 2.2%.