Taiwan Stocks Fluctuate, Test 40,000 Mark in Early Trading as Market Awaits NVIDIA Earnings

(CNA, by Tseng Jen-kai, Taipei, May 20) Amid rising U.S. bond yields and investor caution ahead of NVIDIA's earnings announcement, Taiwan stocks opened slightly higher today. The market saw volatile trading in the early session, at one point rising over 100 points before falling into negative territory, hitting a low of 40,037 points, with a high-low difference of about 300 points. Around 9:12 AM, the TAIEX weighted index was up 88.14 points at 40,263.70. The OTC index, which represents small and medium-sized enterprises, also opened higher. The four major large-cap stocks showed mixed performance. TSMC fell by as much as NT$15 to NT$2190; MediaTek rose by up to NT$50 to NT$3205; Delta Electronics gained up to NT$45 to NT$1960; and Hon Hai fell by as much as NT$3 to NT$242. Analysts note that the long-term bull trend for Taiwan stocks remains unchanged, but investors should be wary of unresolved geopolitical risks in the Middle East and the possibility that inflation expectations could limit major central banks' room for rate cuts, affecting global capital momentum and market valuations. Additionally, with the pace of short-term fund rotation accelerating, it is advisable not to chase stocks at high prices. (Editor: Yang Lan-hsuan) 1150520