The Taiwan Stock Exchange saw a surge in stock prices due to eased US-China trade tensions and positive movements on Wall Street. The Taiwan Stock Exchange Capitalization Weighted Stock Index, known as TAIEX, closed higher, gaining 200.6 points to reach 21,330.14 with a turnover of NT$391.2 billion.
Key players like TSMC, MediaTek, and Foxconn experienced notable gains, reflecting the positive market sentiment. TSMC saw a 1.25% increase, while MediaTek rose by 3.04% and Foxconn closed 3.27% higher.
Shipping stocks also performed well as expectations of increased exports to the US grew. Companies like Evergreen Marine, Yang Ming Marine Transport, and Wan Hai Lines saw significant gains, indicating a positive outlook for the shipping industry.
DRAM makers were in focus following reports of price hikes by global leaders Samsung and SK Hynix. This news drove up shares of Taiwan-based DRAM firms, with Nanya Technology and Winbond Electronics experiencing substantial increases in their stock prices.
Furthermore, shipping-related firms benefited from geopolitical developments, with firms like Franbo Lines, Shih Wei Navigation, and Wisdom Marine Lines recording gains after Russia invited Ukraine for direct peace talks in Turkey.
The airline sector also witnessed positive movements, propelled by strong revenue reports from major carriers in April. Eva Air, China Airlines, and Starlux Airlines ended on a high note, while Tigerair Taiwan experienced a slight decline in revenue.
Commenting on the market trends, Taishin Securities Investment Advisory Vice President Huang Wen-ching highlighted the market’s resilience in filling the gap left by previous dips. He suggested that the market might transition into a slower upward trend or a consolidation phase amid ongoing uncertainties.
Overall, the Taiwan Stock Exchange’s performance reflects the impact of global trade dynamics and geopolitical events on the local market. Investors are advised to stay informed and conduct thorough research before making investment decisions in this evolving landscape.
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