Taiwan's market swung from a big morning drop to a strong close, a good day for local investors and especially for shareholders of financial group KGI.

• The index fell sharply early as chip stocks sank, then reversed and closed up more than 600 points.
• Foreign investors flipped to buying, putting a large sum into Taiwanese shares on the day.
• KGI Financial drew the heaviest foreign buying, its second straight day of accumulation, lifting the stock again.
• Chipmaker Powerchip was the next biggest target, alongside China Airlines and several plastics and glass names.
• The turnaround came as high-priced stocks like Largan and Alchip surged and TSMC swung back into positive territory.

Outlook: Continued foreign buying would support the rebound, but the early weakness in chip stocks shows the market is still fragile.