Taiwan's Stock Market Extends Record Streak Despite Intraday Swings

Strategic Insights -

The Taiwan stock market extended its winning streak to four consecutive sessions on Thursday, with the TAIEX closing at a record high of 25,215.71. The market's intraday swings were wide, but investors remained optimistic about the outlook for the sector. TSMC and other tech stocks continued to rally, while investors also reacted to news of a major contract between OpenAI and Oracle.

Key Takeaways:

  • The Taiwan Capitalization Weighted Stock Index (TAIEX) gained 23.12 points to close at 25,215.71, extending its record streak to four consecutive sessions.
  • TSMC continued its rally, reaching an intraday high of NT$1,260 before ending up 1.22% at NT$1,240, both record levels.
  • The company recorded 10 large block trades totaling 2,483 lots, or 248.3 million shares, worth more than NT$3 billion, with prices ranging from NT$1,231.82 to NT$1,285.5.
  • MediaTek eased 0.67% to NT$1,480, while Delta Electronics fell 0.72% to NT$831.
  • Foxconn gained 2.14% to NT$214.5, Accton touched an all-time high of NT$1,170 before closing at NT$1,120, up 2.75%, and Mitac fell 3.72% to NT$87.9.
  • Memory stocks advanced on firmer dynamic random access memory prices, with Winbond Electronics rising 0.2% to NT$25 and Nanya Technology increasing 3.86% to NT$56.5.
  • Senior analyst Chien Po-ya noted that early trading was lifted by US technology stocks, but selling pressure emerged as prices moved further from monthly averages.
  • Taishin 2000 High Technology Equity Fund Manager Shen Chien-hung pointed to a rapid rise in margin financing, warning of possible corrections after the recent run-up, but also noting the long-term AI-driven uptrend in place.

Statistics:

  • The TAIEX closed at 25,215.71, a gain of 23.12 points from the previous day.
  • Turnover expanded to NT$589 billion (US$19.4 billion), the highest this year since April 9, according to CNA and CTEE.
  • TSMC ended up 1.22% at NT$1,240, a record level.
  • The company recorded 2,483 lots, or 248.3 million shares, worth more than NT$3 billion, in large block trades.
  • Foxconn gained 2.14% to NT$214.5, Accton touched an all-time high of NT$1,170 before closing at NT$1,120, up 2.75%, and Mitac fell 3.72% to NT$87.9.

Sources:

  • CNA
  • CTEE
  • Oracle
  • OpenAI
  • Foxconn
  • Mitac
  • Accton Technology
  • Winbond Electronics
  • Nanya Technology
  • Taishin Securities