Taiwan's ABF substrate stocks rebounded sharply, good news for shareholders, though the broader Taiwan market remained under pressure ahead of the Mid-Autumn Festival holiday.

• Unimicron, Nan Ya PCB and Kinsus all climbed together, with Kinsus briefly hitting its daily limit up before closing more than 6% higher.
• Kinsus posted record August revenue and more than tripled its profit year on year. Foreign brokerages issued buy ratings, with Bank of America raising its target price to NT$1,250 — implying the stock joins the ranks of shares trading above NT$1,000.
• A controversy in late August over Unimicron allegedly disguising the origin of its products briefly weighed on the entire substrate group; buyers have now returned and the negative sentiment has clearly faded.
• The broader index, by contrast, weakened, as foreign investors offloaded more than NT$30 billion in a single day, leaving the index barely holding the 48,000 level.
• With AI data centres consuming ever more power, funds are beginning to rotate out of GPUs and memory and into power management and power semiconductors.

Outlook: Concerns about a turn in the market after the holiday remain, but data from the past decade show that the longer positions are held after Mid-Autumn, the higher the win rate. For substrate stocks, the near term hinges on whether foreign buying can be sustained.