Taipei Ticker台北行情

Nvidia Board Probes CEO, Taiwan Rescue Fund Authorized: TAIEX Lost 5,510 Pts Last Week on NT$524.4B Foreign Selling; SOX Rebounded 4.21% Friday

Monday, November 9, 2026 Morning Brief Data: US close Fri, Nov 6; Taiwan section updates after the 1:30 PM Taipei close, around 5:00 PM Taipei time

Today's Takeaways

Morning Brief US close Nov 6 · Week in review · Taiwan pre-market

Nvidia probe, rescue fund on standby

Last week brought violent post-election swings in US stocks. Markets worried that Congress and the states could restrict AI data center construction after the midterm elections, and AI hardware stocks sold off sharply: the PHLX Semiconductor Index fell 12.15% for the week, its fifth straight weekly loss, while the S&P 500 lost 2.68% and the Nasdaq 3.37%, both down for a fourth straight week. Chips rebounded on Friday, Nov 6, with the SOX up 4.21% and TSMC's ADR up 6.33% to US$375.44. US October payrolls rose by 165,000, far above forecasts, raising expectations of a December Fed hike and lifting the 2-year Treasury yield to 4.51%.

Taiwan's market fell on all five days last week: the TAIEX dropped from 45,211.83 to 39,701.64, down 5,510.19 points (−12.19%). Foreign investors sold a net NT$524.38B for the week and investment trusts bought NT$128.82B. During the Nov 6 plunge, many margin accounts were forced to sell: according to the Economic Daily News, margin loans on listed stocks fell by NT$42.35B in one day, and by NT$56.41B across listed and OTC stocks, both record single-day declines.

The key weekend news: on Sunday, Nov 8 (ET), Nvidia's board announced that independent directors and outside counsel will investigate whether CEO Jensen Huang was the target of a foreign intelligence effort. In a letter to employees, Huang admitted to an affair; the board said it has no reason to believe national security or company secrets were compromised. Nvidia shares have not traded since, so the market's reaction will come at Monday's US open; Nvidia is scheduled to report earnings on Nov 17 (ET).

In Taiwan, the Ministry of Finance announced that the National Financial Stabilization Fund held an extraordinary committee meeting after the Nov 6 close and authorized its executive secretary to deploy funds as needed to stabilize the market, its 10th market-support action. The Financial Supervisory Commission's limits on securities-lending short sales and higher short-sale margin take effect today. TAIEX futures closed Friday's night session at 40,298, up 646 points; there is no night session on weekends. TSMC's converted ADR price is about 16.45% above its Nov 6 Taiwan close.

This week: US October CPI at 8:30 AM ET Tuesday, Nov 10; CoreWeave earnings after the US close Nov 10; Hon Hai's earnings call Thursday, Nov 12. Taiwan closes at 1:30 PM today; the Taiwan section updates around 5:00 PM Taipei time.

Key Numbers

United States Close, Fri Nov 6; closed for the weekend

Market	Close	Change	Note
S&P 500	7,376.86 pts	+0.31%	Up 23.13 points Friday, a small rebound after the previous day's 4.36% drop; strong jobs data pushed up yields and limited the gain. Down 2.68% last week, a fourth straight weekly decline, and about 5.65% below its Oct 6 record high. US markets were closed for the weekend, so these figures match Saturday's brief.
Nasdaq Composite	24,579.42 pts	+1.09%	Up 264.42 points Friday as chip stocks led a rebound, recovering only a small part of the previous day's 5.52% drop. Down 3.37% last week, a fourth straight weekly decline, and about 10.94% below its Oct 6 high, still in a "correction" of more than 10%.
Dow Jones Industrial Average	51,285.70 pts	−0.46%	Down 237.36 points Friday; with little chip exposure, it missed the rebound. Last week it jumped 1,569.40 points on Wednesday after the election and fell 1,833.06 on Thursday, ending down 0.94%, the smallest weekly loss of the three main indexes.
PHLX Semiconductor (SOX)	9,390.25 pts	+4.21%	Up 379.11 points Friday, with AMD +11.04%, Micron +5.12% and Nvidia +2.78%, recovering about 30% of the previous day's 12.25% drop. Still down 12.15% last week, a fifth straight weekly loss, and about 35.8% below its one-year high on Jun 22. The weekend news of the Nvidia CEO probe will be reflected only at Monday's open.
VIX	25.64 pts	−9.01%	Measures expected volatility over the next 30 days. It eased from 28.18 on Friday, but rose 32.03% last week and remains above 20, meaning markets still expect large swings.
10-year Treasury yield	4.86%	+2 bp	According to the US Treasury, up 2 bp Friday on strong payrolls; the 2-year rose 5 bp to 4.51%. According to CNBC, citing CME FedWatch, the odds of a quarter-point Fed hike in December were about 76.8%. For the week, the 10-year fell 8 bp from 4.94% as money rushed into Treasuries during Thursday's rout.
WTI crude	US$90.34/bbl	−0.20%	Little changed Friday with no single driver. Down 13.23% last week, mainly because Iran signaled willingness to pursue peace talks and markets expected more post-election pressure to end the war. Brent fell 16.90% for the week to US$97.76/bbl.
Gold (December futures)	US$4,079.50/oz	−0.83%	Strong jobs data lifted the dollar index 0.72% Friday, a headwind for gold, which pays no interest. Still up 4.63% last week as money moved into safe havens during the rout.

Taiwan Pre-Market TAIEX futures night session, TSMC ADR, Nov 6 close

Indicator	Value	Change	Note
TAIEX futures night session (Nov contract)	40,298 pts	+646 pts (+1.63%)	This is Friday's night session (3:00 PM Nov 6 to 5:00 AM Nov 7 Taipei time); there is no night trading on weekends. The comparison is the Nov 6 day-session settlement of 39,652. According to the TAIFEX daily report and FinMind, the session low was 39,129 and it reached 40,845 after US chip stocks rebounded, with 69,882 contracts traded. The close was about 596 points above the TAIEX's Nov 6 close. The Nvidia CEO probe news came after this session closed and is not reflected in this price.
TSMC ADR, converted	NT$2,486	Premium 16.45%	The ADR closed Friday at US$375.44, up 6.33%, and fell 7.56% last week. One ADR equals five common shares; at Friday's Yahoo Finance rate of 33.11 it converts to about NT$2,486, 16.45% above TSMC's Nov 6 Taiwan close of NT$2,135 (same as Saturday's brief). Yahoo's weekend quote of 32.79 would give about NT$2,462, a premium of about 15.32%; weekend currency trading is thin, so that quote is less reliable. The ADR has usually traded at a premium; it widened because the ADR rose further after Taiwan's close.
TAIEX (Nov 6)	39,701.64 pts	−1,873.08 pts (−4.51%)	A seventh straight decline and below 40,000; the intraday loss of 3,737.67 points was the largest on record, according to CNA. Down 5,510.19 points (−12.19%) last week and about 20.3% below its Oct 6 high. The TPEx index closed at 304.02, down 17.89% last week. Turnover was NT$1,321.07B.
Institutional investors (Nov 6)	−NT$113.97B		According to the TWSE, foreign investors sold a net NT$91.19B, their seventh straight day of net selling; investment trusts bought NT$26.69B, a 19th straight day of net buying; dealers sold NT$49.48B. For the week, foreign investors sold NT$524.38B and investment trusts bought NT$128.82B.

Taiwan closes at 1:30 PM today; closing data and institutional flows will be updated around 5:00 PM Taipei time.
Before the open, see the TAIEX futures night session and TSMC ADR above.

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

Six Market Factors Last week and this week

TrendSharp drop

Taiwan's TAIEX fell 12.19% last week and the TPEx index 17.89%; the TAIEX is about 20.3% below its October high. In the US, the S&P 500 and Nasdaq fell for a fourth straight week and the SOX for a fifth, before a 4.21% rebound on Friday.

Money flowsForeign outflows

Foreign investors sold a net NT$524.38B last week, while investment trusts bought NT$128.82B. The record one-day drop in margin loans on Nov 6 shows forced selling by margin accounts was concentrated that day. The National Financial Stabilization Fund is authorized to step in, and the FSC's short-selling limits take effect today.

Interest ratesHike expectations

October payrolls rose 165,000, and the odds of a December Fed hike are about 76.8% (CNBC, citing CME FedWatch). Tuesday's October CPI is the next key data point for whether the Fed raises rates.

Sector concentrationAI hardware under pressure

Last week's selling centered on AI chips, memory, substrates, power supplies and cooling. The weekend probe of Nvidia's CEO adds governance and political risk at the AI leader; this week's CoreWeave and Applied Materials results will test demand for AI data centers and equipment.

GeopoliticsUS–China risk

The Nvidia probe centers on whether Jensen Huang was targeted by Chinese intelligence; according to CNBC, top House Republicans have asked Huang for a briefing. Markets also worry that Congress and the states will take a tougher line on AI data centers after the election.

InflationAwaiting CPI

WTI crude fell 13.23% last week, easing energy costs, but October hourly wages rose 3.1% from a year earlier, above forecasts. According to Saxo's preview, forecasts call for October CPI to rise 0.3% from September and core CPI 0.2%, both slower than in September.

Taiwan Focus

Taiwan closes at 1:30 PM today; closing data and institutional flows will be updated around 5:00 PM Taipei time.
Before the open, see the TAIEX futures night session and TSMC ADR above.

US & Global News Last week and the weekend

Nvidia's board investigates CEO Jensen Huang, who admits an affair

On Sunday, Nov 8 (ET), Nvidia's board announced that independent directors and outside counsel will investigate whether CEO Jensen Huang was the target of a foreign intelligence effort. According to CNBC, the matter involves a woman whom US intelligence agencies reportedly believe has passed information to Beijing. Huang admitted to an affair in a letter to employees and apologized; the board said it has no reason to believe national security or Nvidia secrets were compromised and expressed confidence in Huang and his team, and a spokesperson said he remains committed to staying on as CEO. Nvidia closed Friday at US$186.64, up 2.78%, and has not traded since; it is scheduled to report earnings on Nov 17 (ET).

AI chipsAI server supply chain

Week in review: post-election AI worries, SOX down 12% for the week

After the US midterm elections, markets worried that Congress and the states could restrict AI data center construction, and AI chip, memory and server stocks sold off sharply. The SOX fell 12.25% on Nov 5 alone, with Micron and AMD each down more than 17%; despite a 4.21% rebound on Nov 6, it ended the week down 12.15%, its fifth straight weekly loss. Micron fell 22.01% for the week, Nvidia 8.80% and TSMC's ADR 7.56%. The Dow jumped 1,569 points on Wednesday and fell 1,833 on Thursday, ending the week down 0.94%.

▼ AI chips▼ Memory▼ Data centers

Strong payrolls put this week's CPI in focus for rate-hike bets

The Bureau of Labor Statistics reported that October payrolls rose by 165,000, far above the forecast of 59,000; the unemployment rate fell to 4.1% and hourly wages rose 3.1% from a year earlier. Expectations of a December Fed hike rose, and the 2-year Treasury yield climbed to 4.51% on Friday. The October CPI comes Tuesday at 8:30 AM ET and PPI Friday at 8:30 AM ET; on Nov 11, Veterans Day, US bond markets are closed while stocks trade as usual.

▲ Banks▼ High-valuation growth stocks

AI supply chain earnings this week: CoreWeave, Applied Materials, Cisco

According to Saxo's calendar, AI cloud computing company CoreWeave reports on Nov 10 (ET), chip equipment maker Applied Materials and networking equipment maker Cisco report on Nov 12 (ET), and SoftBank Group reports on Nov 10. Their revenue and capital spending outlooks will test whether worries about slower AI data center buildouts show up in actual orders.

CloudChip equipmentNetworking

▲▼ show the direction in which the news usually affects that industry, not a prediction of how its stocks will move; industries without a direction mark may be affected either way.

US–Taiwan Link: News at the AI Leader Ties Directly to Taiwan's Supply Chain

The common theme in US and Taiwan stocks last week was a reassessment of how fast US AI data centers will be built. The memory and AI chip stocks that fell hardest in the US had Taiwanese counterparts that fell even more: Micron dropped 22.01% for the week and Nanya Technology 24.42%; Taiwanese companies are the main suppliers of substrates, PCBs, power supplies and cooling, and Unimicron and Delta Electronics fell 26.49% and 20.97%. TSMC fell 9.92% for the week, more than its ADR's 7.56% but less than the TAIEX's 12.19%.

Nvidia is one of the main customers of Taiwan's AI server, foundry, advanced packaging and cooling supply chain, so the weekend news of the board's probe of its CEO is directly relevant to those industries. However, the news broke after Friday's futures night session closed, so neither the 40,298 night-session close nor TSMC's 16.45% ADR premium reflects it.

Other links: Fed hike expectations strengthened the dollar, and the New Taiwan dollar weakened past 33 per US dollar last week, interacting with foreign outflows. The stabilization fund and FSC measures are local Taiwan policy factors with no US counterpart. Taiwan's actual move today will be known at the 1:30 PM close.

Dates to Watch US Eastern Time

Sun Nov 8, 8:00 PMTaiwan's market opens (9:00 AM Mon, Taipei); new short-selling rules take effectThe stabilization fund is authorized to step in as needed; the weekend Nvidia news and Friday's night futures and ADR moves will be reflected at the open

By Nov 10Taiwan October sales reportsListed companies report the prior month's revenue by the 10th, a check on whether AI supply chain orders are still growing

Tue Nov 10, 8:30 AMUS October Consumer Price Index (CPI)After jobs and wages both beat forecasts, CPI will shape views on a December Fed hike

Tue Nov 10, after closeCoreWeave earningsA gauge of demand for AI cloud computing

Wed Nov 11US Veterans DayUS stocks trade as usual; the US bond market is closed

Thu Nov 12Hon Hai third-quarter earnings callAI server shipments and outlook; the date is posted on Taiwan's Market Observation Post System

Thu Nov 12, after closeApplied Materials, Cisco earningsReflect demand for chip equipment and networking gear

Fri Nov 13, 8:30 AMUS October Producer Price Index (PPI)A follow-up read on inflation pressure after CPI

Tue Nov 17Nvidia earningsNvidia's first report since the board announced its probe

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 CNBC — Nvidia investigates CEO Jensen Huang's relationship with alleged Chinese spy (board probe, Huang's letter, earnings date) Ministry of Finance (Taiwan) — National Financial Stabilization Fund decides to start market-stabilization operations (Nov 6, in Chinese) Financial Supervisory Commission — Measures on securities-lending short sales and short-sale margin (Nov 6, in Chinese) Economic Daily News — Record one-day drop in margin balances on Nov 6 (in Chinese) Saxo — Week ahead (earnings and data calendar, CPI forecasts) CNBC — U.S. economy added 165,000 jobs in October (FedWatch hike odds) Bureau of Labor Statistics — The Employment Situation, October 2026 Bureau of Labor Statistics — CPI release schedule Bureau of Labor Statistics — PPI release schedule US Treasury — Daily Treasury yield curve rates Yahoo Finance — US indexes, SOX, VIX, stocks, oil, gold futures, TSMC ADR, NT$ exchange rate and weekly changes Taiwan Futures Exchange — Daily futures market report (TAIEX futures night session) FinMind — TAIEX futures night-session prices and volume (cross-check) Anue (cnyes) — TAIEX front-month futures quote (cross-check) Taiwan Stock Exchange — Market trading statistics (TAIEX and turnover) Taiwan Stock Exchange — Institutional investors' trading (Nov 2–6) Taipei Exchange — TPEx index Central News Agency — TAIEX falls below 40,000 (intraday record, in Chinese) Taipei Ticker — Nov 7 brief (last week's US and Taiwan review and stock-level weekly moves)