Fubon Taiwan Semiconductor (03076.HK) Up 6.33% as Taiwan Stocks Rebound

NewTimeSpace News: As of 11:18 on November 9, Fubon Taiwan Semiconductor (03076.HK) rose 6.33% to a latest price of HK$15.450. The ETF has so far traded 42,600 units today, with turnover of HK$655,742 and an average price of HK$15.393; its turnover rate is 0.734%. It has gained 6.33% week to date. The net asset value per unit is HK$14.4990, and assets under management stand at HK$84.21 million (about US$10.73 million). (Note: NAV and AUM are as of November 6; AUM is denominated in US dollars and converted at US$1 = HK$7.8467; the week-to-date change is based on the previous close of HK$14.530 on November 6.)

Taiwan stocks rebounded strongly on November 9 after a series of sharp declines. The weighted index opened at 40,347.28, up 645.64 points, touched an intraday high of 42,349.36 and stood at 41,945.11 by 11:18, up 2,243.47 points or 5.65%. Among heavyweights, TSMC opened up NT$75 at NT$2,210 and rose as high as NT$2,290, while MediaTek and ASE Technology Holding gained more than half a limit and Delta Electronics and Nanya hit limit-up. On policy, the National Financial Stabilization Fund entered the market for a tenth time starting today, and the Financial Supervisory Commission's short-selling restrictions took effect the same day, including lower securities lending quotas and higher margin requirements for short sales. Abroad, the Philadelphia Semiconductor Index rose 4.21% to 9,390.25 on November 6, the Nasdaq gained 1.09% and TSMC's ADR climbed 6.33%; separately, reports said TSMC is evaluating a move into memory chip manufacturing and next-generation 3D DRAM at the request of its largest customer, Nvidia.

Fubon Taiwan Semiconductor (03076.HK) tracks the NYSE FactSet Taiwan Core Semiconductor Index (Net Total Return). Its constituents are core semiconductor companies listed on the Taiwan Stock Exchange and the Taipei Exchange, spanning foundry, IC design, packaging and testing, memory, and semiconductor equipment, with a 10% weight cap applied to OTC constituents. The product is managed by Fubon Fund Management (Hong Kong) Limited, listed on the Hong Kong Stock Exchange on January 13, 2022, with a management fee of 0.06% per year.

Uni-President Securities sees the stabilization fund's entry and the short-selling curbs as a two-pronged rescue, with the market battling to defend the 40,000 level. It notes that the prior session opened 38,915 points lower, plunged as much as 3,737 points intraday in the largest point drop on record, and closed at 39,701 after bargain hunters lifted the index off its lows, suggesting buying support has emerged after the rout; whether heavyweights can sustain the rebound is the next thing to watch.