Taiwan's stock market swung from a big morning loss to a strong close, good news for the market overall but painful for the million-plus shareholders of chipmaker UMC.

• The index fell more than 200 points early as chip stocks sagged, then turned around and finished up 663 points.
• The rebound came from high-priced names like Largan and Alchip surging, with TSMC also flipping into the green.
• Local investment funds bought a net NT$4.9 billion overall but dumped electronics stocks on the way.
• UMC took the hardest hit, ending a two-day buying streak and topping the sell list, with its shares slipping to NT$123.5.
• Yageo, First Financial, Gigabyte and ASE were also among the biggest fund sales.

Outlook: The market's direction still hangs on chip stocks, and funds rotating out of electronics could keep pressure on names like UMC even while the wider index climbs.