Taiwan stocks challenge 48,000 points as TSMC ADR rises over 1%

TAIPEI, June 23 (CNA) -- Taiwan's stock market surged 1276.31 points on June 22, breaking the 47,000-point mark, led by TSMC. The U.S. stock market saw mixed results on June 22 due to conflicting news, but the Philadelphia Semiconductor Index closed up 2.04%, and TSMC ADR rose 1.2%. Investment consultants stated that in the short term, it is necessary to observe the progress of U.S.-Iran negotiations, the performance of U.S. stocks, and the movements of foreign investors. The Taiwan stock index has the opportunity to challenge the 48,000-point level.

Investment consultants also pointed out that market focus this week includes economic data such as the U.S. May Personal Consumption Expenditures (PCE) price index, as well as Micron's earnings report. Related data and corporate outlook will be important indicators for observing economic conditions and capital market trends.

Progress in U.S.-Iran peace talks brought positive news to investors, but the weakening of large technology stocks, coupled with rising U.S. Treasury yields, led to mixed closing results for major U.S. stock indices. The Dow Jones Industrial Average rose 148.01 points, or 0.29%, to close at 51,712.71 points; the S&P 500 Index fell 27.79 points, or 0.37%, to close at 7,472.79 points; the Nasdaq Composite Index dropped 351.33 points, or 1.32%, to close at 26,166.60 points; the Philadelphia Semiconductor Index surged 292.94 points, or 2.04%, to close at 14,634.72 points.

TSMC's stock price opened high and continued to rise on June 22, closing up NT$100, or 4.15%, at NT$2,510. It broke through the NT$2,500 mark for the first time, setting a new historical high, and led the Taiwan stock market to set multiple new record highs.

The Taiwan Stock Exchange's main index on June 22 saw an intraday gain of up to 1405.99 points, and closed up 1276.31 points, setting the 9th largest intraday point gain and the 8th largest closing point gain in Taiwan's stock market history, respectively. The index closed at 47,741.51 points, breaking the 47,000-point mark for the first time and continuing to set a new historical high.

The Taiwan Futures Exchange index closed up 1661 points, or 3.55%, at 48,413 points on June 22, breaking the 48,000-point mark in advance and setting a new high simultaneously. Additionally, the GreTai Securities Market index rose 6.44 points, or 1.44%, to close at 453.50 points, also setting a new high.

Observing the trading activities of major institutional investors, foreign and mainland Chinese investors bought NT$68.457 billion on June 22, marking the second consecutive day of net buying and the 9th largest single-day net buying amount by foreign investors in history. Proprietary traders also bought NT$12.104 billion, while investment trusts were net sellers, selling NT$9.664 billion. (Editor: Lin Chia-han) 06/23/115

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