The Taiwan Stock Exchange experienced a significant rise, driven by positive sentiments surrounding international trade and alleviated concerns regarding US export restrictions on AI chips. The market closed with the Taiwan Stock Exchange Capitalization Weighted Stock Index, TAIEX, climbing by 371.64 points to 20915.04, accompanied by a turnover of NT$294 billion (US$9.7 billion).
Key players in the market such as TSMC, MediaTek, and Foxconn saw notable gains. TSMC witnessed a 3.38% increase, closing at NT$949 (US$31), while MediaTek and Foxconn also ended the day on a positive note with gains of 2.71% and 0.68%, respectively.
Investor confidence was further bolstered by TSMC’s record-breaking revenue of NT$349.56 billion in April, setting a new milestone for the company. This achievement had a ripple effect on related stocks, with Yeedex Electronic, Shih Her Technologies, and Chunghwa Precision Test Tech experiencing significant increases.
Moreover, the momentum extended to the semiconductor sector, with Alpha Holdings and Mars hitting their daily trading limits. The market also witnessed a surge in robot-related stocks amidst speculation surrounding Nvidia CEO Jensen Huang’s potential early visit to Taiwan, hinting at positive developments ahead of the upcoming Computex event.
Notably, companies in the silicon photonics sector also saw a surge in their stock prices. Ezconn, LuxNet, Elite Advanced Laser, and LandMark Optoelectronics reached their daily limits, reflecting growing investor interest in technologies that enable faster data transmission and processing.
Experts attributed the market’s bullish performance to the strength of the Taiwan dollar and TSMC’s exceptional revenue results. Institutional investors highlighted the positive impact of these factors on investor sentiment, contributing to a week-long advancement of the TAIEX by 127.4 points.
The convergence of optimistic trade developments, robust financial performances by key market players, and growing interest in innovative technologies like silicon photonics painted a positive outlook for the Taiwan Stock Exchange. Investors were advised to conduct thorough research and analysis before making investment decisions in light of the dynamic market conditions.