Taipei Ticker台北行情

Chip Stocks Rebound 2.63% as AMD Beats Expectations; TAIEX Futures Rise 426 Points Overnight

Wednesday, November 4, 2026 Morning edition Data: US close Nov 3; Taiwan section updates after the 1:30 PM Taipei close, around 4:00 PM Taipei time

The Takeaway

Chips rebound, election awaited

US stocks were mixed on Tuesday (Nov 3), Election Day for the midterms: chip stocks rebounded after three days of heavy losses, with the PHLX Semiconductor Index up 2.63%, the Nasdaq up 0.83% and the S&P 500 up 0.36%. The Dow fell 197.26 points, dragged down by Apple, which dropped 1.90% after its earnings. After the close, AMD reported third-quarter revenue of $13.38 billion, up 45%, with data center revenue up 97%, and guided to about $17 billion in fourth-quarter revenue; the stock jumped more than 7% in after-hours trading. The 10-year Treasury yield rose 4 bp to 4.95%, close to 5%. Oil swung on US–Iran talks headlines, and WTI settled at $96.57 a barrel, roughly unchanged. TAIEX futures closed the night session at 43,779, up 426 points, and TSMC's ADR rose 1.55%, back above $400. Midterm results come in from Tuesday night ET, and Friday brings the US jobs report, so volatility could stay high.

Key Numbers

United States Close, Nov 3

Market	Close	Change	Note
S&P 500	7,568.92 pts	+0.36%	Up 27.52 points, ending a two-day decline. A rebound in chip and AI-related stocks lifted tech: Nvidia rose 2.29%, and AMD and Broadcom each gained about 3%. Apple's 1.90% post-earnings drop and an 8.74% plunge in e-commerce platform Shopify after a revenue miss limited the gain. The index is about 3.20% below its Oct 6 record of 7,818.93.
Nasdaq Composite	25,372.01 pts	+0.83%	Up 207.65 points, ending a two-day decline and the best of the three major indexes. Semiconductors and memory led. The tech-heavy Nasdaq-100 had closed Monday more than 10% below its October high; the QQQ ETF, which tracks it, rose 0.62%, recovering only a small part of that. Data analytics company Palantir fell 1.65% after its earnings, a sign that views on AI software stocks remain divided.
Dow Industrials	51,786.72 pts	−0.38%	Down 197.26 points, the only one of the three major indexes to fall. Component Apple fell 1.90%: its quarterly revenue and earnings beat expectations, but it guided to a lower gross margin this quarter, said rising memory costs would pressure margins, and Greater China revenue fell short of expectations. Monday's rotation into industrials and other traditional sectors did not continue.
PHLX Semiconductor (SOX)	10,600.40 pts	+2.63%	Up 272.07 points, rebounding after a loss of about 11.6% over the previous three sessions. Memory and chip-equipment stocks led: Micron rose more than 2%, AMD more than 3% ahead of its report, and Nvidia 2.29%. According to Yahoo Finance, the SOX closed Nov 2 about 22% below its Oct 6 high; after today's rebound it is still about 20% below. TSMC's ADR rose 1.55%.
VIX	20.83 pts	−1.51%	Measures expected stock market volatility over the next 30 days. The chip rebound eased nerves a little and ended a two-day rise, but the index remains above the 20 warning level, reflecting uncertainty over the midterm results and post-election policy.
10-year Treasury yield	4.95%	+4 bp	Per the US Treasury, up from 4.91% on Nov 2, ending a three-day decline and just 5 bp below 5%; the 2-year yield rose 2 bp to 4.61%. September JOLTS showed 7.5 million job openings, little changed from August, a "low hire, low fire" labor market. Two regional Fed presidents said last week that rates may need to rise to curb inflation, so rate pressure remains, and borrowing costs for tech companies funding AI with debt are in focus.
WTI crude	US$96.57/bbl	+0.11%	Flat after Monday's 7.36% plunge. Prices dipped intraday on hopes for US–Iran talks, but an Iranian official said the two sides remain far from a deal, and crude settled slightly higher. Brent (January contract) closed at US$104.30/bbl, down 0.45%. US gasoline averaged $4.14 a gallon and diesel $6.29, both records for any Election Day, so oil remains a source of inflation pressure.
Gold (December futures)	US$3,936.00/oz	−0.85%	Gave back part of Monday's rebound. Higher Treasury yields and a 0.14% rise in the dollar index to 101.89 made non-yielding gold less attractive.

Taiwan pre-market TAIEX futures night session, TSMC ADR, Nov 3 close

Market	Value	Change	Note
TAIEX futures, night session (November contract)	43,779 pts	+426 pts (+0.98%)	The night session ran from 3:00 PM on Nov 3 to 5:00 AM today, Taipei time; the change is measured against the Nov 3 day-session close of 43,353. Futures rose with the 2.63% SOX rebound, TSMC's 1.55% ADR gain and AMD's after-hours jump, with 40,804 contracts traded; the previous night session had fallen 917 points. The night close was about 471 points above the TAIEX's Nov 3 close of 43,307.54.
TSMC ADR, converted	NT$2,650	15.46% premium	The ADR closed at US$404.80, up 1.55% and back above $400. One ADR equals five ordinary shares; at an exchange rate of 32.731, that is about NT$2,650, 15.46% above the Nov 3 Taiwan close of NT$2,295. The premium widened from about 11.5% the day before because TSMC fell 1.50% in Taiwan on Nov 3 while the ADR rose that night. The ADR usually trades at a premium.
TAIEX (Nov 3)	43,307.54 pts	−1,612.60 pts (−3.59%)	The seventh-largest one-day point drop on record, losing the 44,000 level. Selling spread from chips to memory, optical communications, passive components and plastics; only 58 listed stocks rose and 1,000 fell. Turnover swelled to NT$1,002.04B, heavy volume on a down day. Down four days in a row for about 3,728 points, the index is about 13.1% below the Oct 6 October high of 49,822.55.
Foreign investors (Nov 3)	−NT$107.31B		A fourth straight day of net selling, up from NT$73.52B the day before, mostly Taiwan ETFs and memory stocks. According to the latest TWSE figures, investment trusts bought for a 16th straight day (NT$18.46B), dealers sold NT$59.05B, and the three groups combined sold a net NT$147.90B (these differ from the trust figure of NT$19.91B and combined NT$146.46B cited in yesterday's afternoon edition; the TWSE figures take precedence).

Taiwan closes at 1:30 PM today; closing data and institutional flows will be updated around 4:00 PM Taipei time.
Before the open, see the TAIEX futures night session and TSMC ADR above.

Units: indexes in points; US prices in US dollars (US$); Taiwan prices and amounts in New Taiwan dollars (NT$); TAIEX futures volume in contracts.

Six Market Signals

TrendOversold bounce

The SOX rebounded 2.63% after a three-day loss of about 11.6%, and the Nasdaq and S&P 500 ended two-day declines. But the SOX is still about 20% below its October high, and the TAIEX closed Nov 3 about 13% below its October high.

Money flowsBack into chips

US money moved back into chip and AI-related stocks, while Monday's traditional-sector winners slipped and the Dow fell. Foreign investors have sold Taiwan stocks for four straight days, NT$107.31B on Nov 3; today's flows will be known after the close.

Interest ratesHike pressure

The 10-year Treasury yield rose 4 bp to 4.95%, close to 5%. September JOLTS showed 7.5 million openings, with no clear weakening in the labor market; two regional Fed presidents said last week that rates may need to rise.

ConcentrationHigh

Gains were concentrated in chips (SOX +2.63%); the Dow fell and the small-cap Russell 2000 rose only 0.23%, so the advance was not broad.

GeopoliticsTalks unsettled

Both the US and Iran have expressed willingness to talk, but an Iranian official said a deal remains far off; investors worry the conflict could flare again after the midterms.

InflationOil elevated

WTI crude is about $96.57 a barrel, and US gasoline and diesel prices set Election Day records. Apple also flagged rising memory costs, a sign that component price increases are showing up in corporate margins.

Taiwan in Focus

Taiwan closes at 1:30 PM today; closing data and institutional flows will be updated around 4:00 PM Taipei time.
Before the open, see the TAIEX futures night session and TSMC ADR above.

US and Global News

AMD posts record third-quarter revenue; data center up 97%

After the close, AMD reported third-quarter results: revenue of $13.38 billion, up 45%, and adjusted earnings per share of $2.09, up 74%, both above expectations (about $13.08 billion and $1.97). Data center revenue was $8.55 billion, up 97%, on record sales of Instinct AI accelerators and EPYC server processors; PC processor revenue was $2.9 billion, up 7%, and gaming revenue was $773 million, down 40%. AMD guided to fourth-quarter revenue of about $17 billion (plus or minus 3%) and an adjusted gross margin of about 55%. The stock jumped more than 7% in after-hours trading.

▲ AI chips▲ Servers▲ Foundry

Chip stocks rebound as money returns to AI ahead of the election

After three days of heavy losses in the SOX, nearly every chip and storage stock in the S&P 500 rose on Nov 3, led by memory and chip-equipment names: Micron rose more than 2%, Broadcom about 3% and Nvidia 2.29%. Software and e-commerce were mixed: Palantir's revenue grew, but the value of new US business contracts rose only 11%, and the stock fell 1.65%; Shopify fell 8.74% after its revenue and gross merchandise volume missed expectations.

▲ Semiconductors▲ Memory▼ E-commerce platforms

Apple falls 1.90% after earnings, weighing on the Dow

Apple's quarterly revenue was $114.5 billion, up 12%, and iPhone revenue grew more than 17%, both above expectations (Apple's earnings release). But the company guided to a 45% to 46% gross margin this quarter, below expectations; management said rising memory chip costs would pressure margins, Greater China revenue fell short of expectations, and iPad sales were weak. The stock closed down 1.90% on Nov 3, wiping out about $94 billion in market value, and was the main drag on the Dow.

▼ Phone brands▲ Memory pricing

Americans vote in the midterms; markets await the count

The US held its midterm elections on Nov 3, with every House seat on the ballot; Republicans control the Senate 53 to 47. According to Yahoo Finance, prediction market Polymarket put the chance of Democrats winning both chambers at about 76% on the morning of Election Day, and some races may not be called on election night. Investors are watching what the outcome means for policy on pharmaceuticals, housing and AI data centers. As this brief was prepared (7:00 PM ET on Nov 3, 8:00 AM Taipei time on Nov 4), counting had only just begun and no results were available.

PharmaceuticalsHousingAI data centers

▲▼ show the direction in which this news typically affects each industry; they do not mean stocks will necessarily move that way. Industries without an arrow depend on the election outcome.

The US–Taiwan Link: Chip Stocks Rebound and AMD Beats — How Taiwan's Industries Are Connected

AMD's AI accelerators and server processors are made mainly by TSMC on advanced processes. Its 97% data center growth and roughly $17 billion fourth-quarter revenue guidance relate to TSMC's advanced manufacturing and packaging, and to Taiwan's AI server assembly, PCB substrate and cooling supply chain. The rebound in US chip stocks such as Micron and Broadcom belongs to the same industry cycle as Taiwan's memory makers, chip designers and packaging and testing companies; several Taiwan memory stocks fell by the daily limit on Nov 3.

Apple's comment that rising memory costs will pressure margins reflects memory prices that are still climbing, which relates to product prices at Taiwan's memory makers; it also signals cost pressure on phone brands, which relates to Taiwan's iPhone assembly and component supply chain. TSMC's ADR premium widened from about 11.5% to 15.46% because Taiwan fell first on Nov 3 and the ADR rose that night. The midterm results could also affect Iran policy and oil prices. How Taiwan actually trades today will be updated after the 1:30 PM close.

What's Next US Eastern Time

Tue Nov 3, evening onwardUS midterm election resultsResults arrive through the night, and some races may take days to call; which party controls Congress could affect fiscal, energy and Iran policy

Wed Nov 4, 10:00 AMUS October ISM services indexServices make up most of the US economy; its prices index shapes views on inflation and rate hikes

Fri Nov 6, 8:30 AMUS October jobs reportSeptember added only 29,000 jobs; another weak print would stoke recession fears, while a strong one would add to rate-hike pressure

By Tue Nov 10Taiwan October sales reportsTaiwan-listed companies report monthly revenue by the 10th, a check on whether AI supply-chain orders are still growing

Wed Dec 9, 2:00 PMFOMC decisionMarkets are watching whether the Fed raises rates

Useful Links Official sources to check the data yourself

This brief summarizes publicly available market data and news for informational purposes only. It is not investment advice and does not recommend buying or selling any security. Companies are mentioned only to illustrate industry trends. Closing figures may differ slightly between data sources.

Sources Yahoo Finance — Stock market today, Nov 3, 2026 (indexes, chip stocks, midterms, oil, JOLTS) Stock Titan — Stock Market Today Live, November 3, 2026 (Apple, chip stocks, Palantir, Shopify, Iran) Vistap Global — Stock Market Today, November 3, 2026 (closing levels, AMD consensus) SEC — AMD third-quarter earnings release (Form 8-K) Apple — Apple reports fourth quarter results US Bureau of Labor Statistics — Job Openings and Labor Turnover Survey (September) US Treasury — Daily Treasury yield curve rates (Nov 3) Institute for Supply Management — ISM report release calendar Yahoo Finance — TSMC ADR (TSM), crude oil, gold futures, dollar index and NT dollar quotes Taiwan Futures Exchange — Daily futures market report (TAIEX futures night session) Taiwan Stock Exchange — Daily market summary (TAIEX) Taiwan Stock Exchange — Trading value of major institutional investors (Nov 3)