Taiwan's market surged to just under 47,000, but Powerchip shareholders got hit as big institutions sold hard.

• Powerchip fell about 3% the day after a sharp jump, hurting its 680,000 shareholders.
• Foreign investors were net buyers of Taiwan stocks overall, yet unloaded more Powerchip than any other name.
• Local dealers and funds sold too, so all three big institutional groups were dumping the stock at once.
• The wider market still climbed, led by MediaTek and Wiwynn, with dozens of stocks hitting their daily limit up.
• Other memory and chip names, including Winbond, Nanya and UMC, were also heavily sold by foreign money.

Outlook: Powerchip is likely to stay choppy while big money keeps taking profits, even as the broader Taiwan market pushes higher.