(March 13): Taiwanese shares saw their worst-ever selling streak by foreign investors as heavyweight Taiwan Semiconductor Manufacturing Co fell out of favour.

Global funds reduced holdings for the past 12 sessions, shedding a net NT$391 billion (US$11.9 billion or RM52.8 billion) worth of Taiwanese stocks through Wednesday, according to exchange data compiled by Bloomberg. TSMC, which accounts for more than a third of the benchmark’s weight, fell nearly 10% during the period as foreign investors dumped 155 million shares.

The tech-heavy market has been caught in this year’s drawdown in global chip stocks as concerns mount over the sector’s frothy valuation. Investors who once couldn’t get enough of leading AI stocks have turned more selective in the wake of DeepSeek’s success, which threw into doubt the notion that China is far behind its global competitors in developing artificial intelligence.

Taiwan’s benchmark Taiex Index climbed 0.9% on Wednesday, trimming its slide from a February high to about 6%. TSMC ended 1.8% higher, its first gain in a week, after Reuters reported the Taiwanese chipmaker has pitched to US chip designers about taking stakes in a joint venture that would operate Intel’s factories. Foreigners added less than a million of its shares on Wednesday.

Uploaded by Magessan Varatharaja