【Top Gainers in Focus】Is the Market Awaiting the Central Bank Meeting? Major Investors Already Positioning on 'The Darkest Horse at the Semiconductor Show'! Hesitate and You'll Miss the Surge!

Is the entire market waiting for the central bank meeting? After Largan Precision (3008) surged +95%, Asia Pacific Electronics (4939) jumped +35%—major investors have already positioned on the 'darkest horse at the semiconductor exhibition'! Hesitate, and you’ll miss the surge!

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Let’s take a look at today’s Taiwan stock market!

The weighted index opened high and fluctuated, closing up 356.23 points at 46,331.45, with a trading volume of NT$1.023 trillion.

Examining today’s institutional investor activity: foreign investors bought a net NT$41.587 billion, investment trusts bought NT$959 million, and proprietary traders bought NT$4.27 billion. Combined, the three major institutional investors bought a net NT$46.817 billion. Foreign investors have bought for three consecutive days, totaling NT$127.279 billion. Investment trusts shifted from selling to buying, while proprietary traders have bought for four consecutive days, totaling NT$37.298 billion.

U.S. stocks rose across the board on Thursday. NVIDIA (NVDA-US), the AI chip leader, reported earnings and long-term outlook exceeding market expectations, reigniting investor confidence in AI demand and capital spending. Tech stocks rebounded strongly: the Nasdaq surged 1.57%, the S&P 500 rose 0.72%, the Dow Jones gained 0.20%, and the Philadelphia Semiconductor Index jumped 2.33%. NVIDIA’s stock soared 8.74%, becoming the main engine driving the tech rally. The company reported Q2 revenue of $96.22 billion, up 106% year-on-year, with data center revenue reaching $89 billion, driven by strong demand for AI servers and accelerated computing. NVIDIA remains highly optimistic about future AI infrastructure investment, easing prior market concerns about slowing AI capex. Capital is flowing back into semiconductors, AI servers, and growth tech stocks. Additionally, TSMC’s ADR rose, further boosting Taiwan’s large-cap tech stocks.

Riding on the strong U.S. rebound, Taiwan’s market continued its bullish momentum. The weighted index opened high and climbed, briefly breaking 46,500 points and surging nearly 600 points, closing above 46,000. It ended up 356.23 points at 46,331.45, with volume at NT$1.023 trillion. Today’s red candlestick with increased volume marks four consecutive green days. With institutional buying, especially foreign investors accumulating for three days, downside support is expected. Overall, NVIDIA’s results reaffirm that AI demand remains in a high-growth phase. As long as the AI trend remains intact, Taiwan’s bullish market structure is likely to continue. Investors should shift from chasing indices to identifying small- and mid-cap growth stocks with solid fundamentals, capacity expansion, and product upgrades, seeking entry points during pullbacks.

Among large-cap stocks:

- TSMC (2330-TW) rose 0.41% to NT$2,420. The board approved a $29 billion capital budget, with 2026’s first three quarters projected to increase 99% YoY. Investments continue in advanced processes, advanced packaging, and specialty technologies, reflecting strong AI chip demand. 2026 capex is estimated at $62 billion, potentially rising to $80–85 billion by 2027 if AI demand persists. Despite higher depreciation from overseas expansion, HPC and high-end smartphone chip demand will support gross margins above 60%. With improving AI demand visibility, fundamentals remain positive.

- Hon Hai (2317-TW) rose 0.40% to NT$253. Q3 revenue outlook remains positive. Cloud and networking benefit from strong GPU, ASIC AI server, and AI switch demand, driving YoY growth. Consumer electronics and PCs gain from spec upgrades and AI-driven replacement cycles. Q2 gross margin was 6.1%, above expectations, with operating expenses down to 2.4%. Net profit reached NT$60 billion, up 35% YoY. Future growth drivers include AI servers, foldable phones, and EV manufacturing. Vertical integration and global manufacturing strengthen long-term order wins and market share.

- MediaTek (2454-TW) rose 3.10% to NT$3,985. Benefiting from expanding Google TPU and AI ASIC demand, the market watches for changes in next-gen TPU partners. Analysts believe MediaTek will remain key in future generations. The long-term Google ASIC trend supports its data center business. Strong AI ASIC demand is expected through 2027, with next-gen products likely to see higher scale and pricing. Data center ASIC revenue is raised to over NT$380 billion, accounting for 34.1% of total revenue. EPS is estimated at NT$171.6, indicating strong fundamental momentum.

Large-cap and small-cap tech stocks rose together, with market volume rebounding. Funds are rotating back into AI, semiconductors, PCBs, and passive components—sectors with solid fundamentals. Passive components were especially strong: Yageo (2327-TW), Walsin (2492-TW), Hollysys (3026-TW), and Sunlord (6173-TW) all hit涨停 (daily limit up), reflecting rising demand for high-end passives from AI servers, high-speed computing, and premium electronics. As AI capex remains high, long-term growth in component supply chains remains intact. Investors are likely to keep seeking companies with simultaneous revenue and profit growth.

With rising demand for AI servers, high-speed computing, and optical communications, the electronics industry’s next growth wave is extending from semiconductors to optics and PCB supply chains. Key players:

- PCB manufacturer PQC (6141-TW) benefits from expanded capacity at its Nantong plant and mSAP process entering optical module markets. - Largan Precision (3008-TW) focuses on high-end optical lenses and AI applications. - Asia Pacific Electronics (4939-TW) gains from flexible PCB materials and high-end electronics demand.

Each occupies a different niche, making their future performance worth tracking.

08/18/2026 Stock Market Queen Advance Preview: PQC (6141-TW)

PQC: NT$41.25 → NT$59.5, +44% after preview.

PQC’s new Nantong plant is fully operational. Its mSAP process is actively entering the optical communications module market, with samples sent to clients. Analysts expect progress on 800G products by Q4. With smartphone PCB orders returning to China and Nantong’s capacity ramping up, revenue contribution will grow. By reducing consumer electronics exposure and expanding optical module presence, successful 800G validation in Q4—combined with rising high-end PCB demand—could boost PQC’s operations and profitability.

07/30/2026 Stock Market Queen Advance Preview: Largan Precision (3008-TW)

Largan: NT$3,715 → NT$7,270, +95% after preview.

Largan enters the traditional iPhone season. 2H26 operations are expected to grow quarterly. Q326 revenue is forecast at NT$17.889 billion, up 30.92% QoQ, with EPS at NT$47.91. Benefits from the iPhone foldable launch and variable aperture lens upgrades will boost high-end product pricing and peak-season performance. Additionally, the company is actively developing CPO-related FAU components with precision above industry average. Customer certification is expected in 2026, with mass production in H1 2027. If successful, this could become a new growth engine and elevate market valuation.

08/25/2026 Stock Market Queen Advance Preview: Asia Pacific Electronics (4939-TW)

Asia Pacific: NT$70.3 → NT$95.2, +35% after preview.

Asia Pacific focuses on flexible PCB materials and has recently entered high-frequency, high-speed PTFE materials and anti-warp materials for advanced semiconductor packaging. If customer certifications go smoothly, new growth momentum could emerge in 2027–2028. Monthly revenue has seen double-digit YoY growth for several months, signaling a strengthening trend. Market interest centers on its entry into NVIDIA’s AI server and advanced packaging supply chain with new materials, pricing in future growth. Its fundamental strength is gaining market recognition.

Kaiwei (5498-TW) is also worth watching. The company benefits from rising demand for AI servers, high-speed networking, and high-end PCBs. Drill bit markets remain supply-tight, with capacity utilization near full. Monthly capacity is expected to rise from 20 million to 25 million by Q4, and further to 40 million by end-2027. Recent performance shows Q2 revenue at NT$580 million, up 74% YoY, gross margin improved to 17%, and operating profit surged 742%, reflecting better product mix and capacity expansion. As high-end coated drill bit share grows, average selling price and margins have room to rise. Rising demand for high-end PCBs, HDI, HLC, and substrates will further drive drill bit and drilling-related business.