Taiwan stocks' intraday gains narrow, defending the 47,000-point level

(CNA, reporter Zeng Renkai, Taipei, July 1st) TSMC has finalized its second-quarter earnings call for July 16th, igniting the earnings call rally. Taiwan stocks rose over a thousand points in early trading today, but the gains later narrowed, with the market hovering around the 47,000-point mark. As of 10:40 AM, the TAIEX in the main board rose 835.81 points to 46961.72 points, with a turnover of approximately 760.9 billion NT dollars.

Among the four major weighted stocks, TSMC rose by a maximum of 85 NT dollars to 2495 NT dollars intraday; MediaTek rose by a maximum of 135 NT dollars to 4380 NT dollars; Delta Electronics rose by a maximum of 70 NT dollars to 2020 NT dollars; and Hon Hai Precision Industry rose by a maximum of 4.5 NT dollars to 255.5 NT dollars. However, MediaTek and Hon Hai's stock prices both fell below the flat line intraday.

Passive component stocks continued to strengthen. Leading stock Yageo hit a high of 1220 NT dollars intraday, an increase of more than half a trading limit, setting a new record high after its stock split. This drove multiple stocks in the sector, including Kam Mei, Huaron, Walsin Technology, Leadtek, Jiuhau, and Mwise, to hit the daily limit of 10% increase intraday.

Lin Bingkui, Vice President of Allianz Global Investors Taiwan, analyzed that after reaching new highs, Taiwan stocks have entered a period of consolidation and volatility. Market fluctuations have significantly increased recently. Overall, Taiwan stocks are still in a consolidation phase within an uptrend, but the market has shifted from index-driven to industry and individual stock-driven.

He stated that key factors to watch for Taiwan stocks going forward include foreign investor movements, the semiconductor industry cycle, and whether the AI supply chain continues to drive capital inflows.

From an industry perspective, Lin Bingkui pointed out that the main focus of the market remains on the AI and semiconductor supply chain. Although the pullback in US tech stocks has put short-term pressure on major electronic stocks, AI-related demand, advanced manufacturing processes, high-performance computing, and corporate earnings outlook remain positive, and the market still has confidence in long-term growth momentum. (Editor: Yang Kai-hsiang) 1150701

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