Unimicron shares steady after limit-down slide
Taiwanese chip substrate maker Unimicron bounced off its lows after a brutal selloff, a relief for buyers stepping in but no all-clear for shareholders.
- Unimicron shares hit limit-down Monday with almost no buyers, after the company got caught up in a scandal over disguising the origin of goods.
- Tuesday opened sharply lower again, but bargain hunters pushed in and the loss shrank by the close.
- The stock is still trading below the NT$1,000 mark it had held, and it swung wildly all day.
- Small investors are split: some are calling a bottom and betting on a fast rebound, others think this is just a pause before more falling.
Outlook: Whether the bounce holds depends on trading volume and what big institutions do next, with the NT$1,000 level the line traders are watching.