Taiwan's stock market swung from a sharp drop to a strong gain, a relief for investors and especially for UMC's million-plus shareholders.

• The main index fell more than 500 points early as tech stocks dragged, then closed up 407 points.
• Chipmakers and chip substrate makers bounced back, with banks and electronics together pulling the market higher.
• Local investment funds sold a net NT$4.6 billion overall but kept buying UMC for a second day.
• UMC opened lower and climbed all day, finishing up about 1%.
• Plastics and electronics distributors, including Nan Ya and Formosa Plastics, were also among the funds' top buys.

Outlook: Continued fund buying in chip and old-economy names could keep the market steady, though tech remains the swing factor.