AI Leads Counterattack, Taiwan Stocks Close Up Over 1,000 Points; Weekly Line Falls 901 Points in the Red

(Central News Agency reporter Jiang Mingyan, Taipei 12th) Driven by US tech stocks and a counterattack led by AI stocks, Taiwan's stock market surged over 1,649 points in early trading on the 12th, marking the second-largest intraday gain in history. It closed up 1,019.58 points at 44,169.04, but the weekly line fell 901.9 points, ending in the red. Investment advisors analyzed that, coinciding with a Friday, the market leaned towards profit-taking, giving back intraday gains. Next week, focus will be on interest rate trends in Japan and the US.

Expectations of a US-Iran agreement boosted US stocks, with the Philadelphia Semiconductor Index surging 7.91%. AI tech stocks rebounded, driving gains in Japanese and South Korean markets.

Taiwan's market opened high at 43,587.63, hitting an intraday high of 44,798.88, a gain of over 1,649 points, the second-largest intraday gain in history.

The Taiwan Weighted Index closed up 1,019.58 points at 44,169.04, a gain of 2.36%. Turnover was NT$1.117645 trillion. Electronics stocks rose 2.61%, financial stocks gained about 0.56%, and the OTC index rose 3.1%.

Among heavyweight stocks, TSMC closed up NT$60 at NT$2,310, a gain of 2.67%. MediaTek rose over 2%, Delta Electronics and Hon Hai closed higher, and Yageo rose over 2%.

Memory stocks were strong, with Nanya Technology and Winbond closing at their daily price limits. PCB stocks surged, with Zhen Ding Tech and Unimicron closing up over 5%.

SpaceX is expected to go public on the US stock market on the 12th, potentially the largest IPO in history. Low-earth-orbit satellite stocks were mixed, with Tong Hsing hitting its daily limit, Sysgration surging, and Gemtek and MTI rising, while Compeq and Yue Foong closed lower.

Looking at high-priced stocks, stock king ASPEED Technology rose over 4%, and stock queen WinWay Technology hit its daily limit. Most high-priced stocks surged, with King Slide, Innovation Service, United Integrated Services, and TrueLight seeing strong gains. Breez and Auras Technology broke through the NT$1,000 mark, leaving the Taiwan stock market with 48 stocks priced above NT$1,000 at the close.

Wang Rongxu, CEO of Wanbao Investment Consulting, told Central News Agency that expectations of a US-Iran agreement boosted US stocks, reviving AI tech stocks. Taiwan, being an AI hub, saw AI stocks sound the charge, led by TSMC. However, being a Friday with potential weekend variables, the market leaned towards profit-taking, giving back intraday gains.

Looking ahead to next week, he said, "There are still tough battles to fight." The interest rate policies of the US and Japanese central banks will be announced. Japan is leaning towards raising rates, and the market is watching whether newly appointed US Federal Reserve Chairman Kevin Warsh will be hawkish or dovish, creating a strong wait-and-see atmosphere. (Editor: Zhang Junmao) 1150612