Taiwan Stock Market Hits 45,000-Point Resistance; Foreign Short Positions Near 90,000 Contracts as TSMC July Revenue Reaches New High

August 11 Taiwan Stock Market Pre-Market News

1. On August 10, the Taiwan stock market rose 702.85 points to close at 44,928.76, reclaiming the quarterly moving average. The three major institutional investors collectively bought TWD 73.167 billion. Although foreign investors turned net buyers with TWD 51.7 billion, their net short position in futures increased by 1,306 contracts to 89,200 contracts. In the spot market, foreign investors bought 64,000 lots of China Steel, the largest purchase, while selling airline and financial stocks.

2. Taiwan Semiconductor Manufacturing Company (TSMC) (2330-TW) (TSM-US) announced on August 10 that its July revenue reached TWD 467.58 billion, up 5.6% month-on-month and 44.7% year-on-year. Cumulative revenue for the first seven months reached TWD 2.872064 trillion, up 37% year-on-year. Strong AI demand, combined with entering Apple's smartphone preparation period, drove TSMC's July revenue to a new monthly record.

3. Synnex (2347-TW) held an investor briefing on August 10. The company reported a qualitative transformation in profitability in Q2 as revenue scaled significantly. Both quarterly and first-half profit metrics performed exceptionally well. Vice President Tu Shu-Chuan stated that strong enterprise demand for AI servers and data center upgrades remains a core driver for operational growth in the second half and beyond.

4. Leading IC design company MediaTek (2454-TW) reported July revenue of TWD 48.475 billion, down 16.44% month-on-month but up 12.16% year-on-year. Cumulative revenue for the first seven months reached TWD 349.808 billion, up 0.84% year-on-year. MediaTek expects Q3 to benefit from rising demand for smart device platforms, offsetting weak smartphone business, with overall revenue likely flat compared to last quarter. July revenue marked a record high for the same period.

5. OSAT leader ASE Holding (3711-TW) (ASX-US) reported July revenue of TWD 73.784 billion, up 12.16% month-on-month and 43.15% year-on-year. Cumulative revenue for the first seven months reached TWD 438.509 billion, up 25.13% year-on-year. Driven by strong demand in both advanced packaging and traditional wire bonding, ASE's July revenue surpassed TWD 70 billion for the first time, setting a new all-time high.

6. Looking ahead to the second half and long-term trends, Synnex Vice President Tu Shu-Chuan noted that low-priced smartphones cannot be launched due to rising component costs, shifting market demand toward mid-to-high-priced models. Price increases are unlikely to reverse, allowing price benefits to persist. The second half will be supported by traditional consumption seasonality, new AI computing platforms, and Apple's new device launches, leading to very optimistic outlooks for 2024 operations. The company will continue optimizing operational efficiency through its smart supply chain platform.

Taiwan stock market up 700 points; foreign investors buy TWD 51.2 billion, increase China Steel holdings while selling airline and financial stocks

TSMC July revenue TWD 467.6 billion, up 44% year-on-year, sets new monthly record

Telecom Trio Earnings: Taiwan Mobile maintains profitability crown with EPS of TWD 3.32 in first seven months

Polaris July revenue TWD 1.9 billion, highest for the period; backlog at record high, boosting Q3 outlook

First six months' real recurring wages average TWD 44,000, highest in nearly six years; over 70% of workers earn below average

MediaTek July revenue TWD 48.5 billion, up 12% year-on-year, records highest for the period

ASE Holding July revenue TWD 73.8 billion, up 43% year-on-year, hits monthly record high

China Steel July shipments rebound to 1 million tons, revenue up 20% year-on-year; returns to growth trajectory in first seven months

Delta Electronics July revenue TWD 67 billion, sets monthly record; Kinsus hits highest for the period in nearly eight years

Yageo July revenue TWD 16.1 billion, new monthly high; Walsin Technology achieves best in nearly eight years

Synnex Investor Briefing: Q2 profits show qualitative growth; optimistic outlook for AI-driven momentum extending into next year