TSMC hits new high of NT$2510, Taiwan stocks surge 1400 points, nearing 48000

(CNA) AI stocks continued their strong performance, with TSMC surging over 4% in intraday trading today, breaking through NT$2500 for the first time. This propelled the Taiwan stock market to open higher and continue its upward trend, with intraday gains exceeding 1400 points, nearing the 48000-point mark, setting a new index high. As of 10:30 AM, the TAIEX index rose 1326.92 points to 47792.12, with a turnover of approximately NT$850.6 billion.

Among the four major weighted stocks, TSMC rose by NT$100 to NT$2510, setting a new record high. MediaTek gained NT$175 to NT$4565. Delta Electronics rose by NT$45 to NT$2195, but turned negative intraday. Hon Hai gained NT$7 to NT$275.5.

The PCB sector showed strong gains today, with Nanzi Electronics and Ming Wang Technology hitting the daily limit. Nanya Plastics, Taiwan Glass, Fu-Chiao, Jian Rong, and De Hong, which supply upstream PCB materials such as glass fiber cloth, also hit the daily limit in intraday trading.

Yuanta Securities Investment Advisory analyzed that after a brief pullback in mid-June, the Taiwan stock market quickly stabilized and rebounded, maintaining a bullish trend in the short term. Especially with the unchanged trend of AI development, the scope of AI dividends has expanded from chips to basic components such as passive components and PCBs.

However, Yuanta Securities Investment Advisory also cautioned that the rapid adjustment of the Taiwan stock market in mid-June did not put pressure on the market, and the chips were not fully settled, which may limit the upward space for the Taiwan stock market. In addition, the Middle East situation remains unstable, with many different interpretations of the US-Iran agreement, and Israel also poses a variable, with many uncertainties. Investors are advised to remain cautious. (Editor: Lin Jia-xian) 1150622

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