Taiwan's Stock Market Rises on Strong Electronics Performance

The Taiwan stock market closed higher on Friday, led by the electronics sector, while construction and high-priced shares also posted gains. The Taiwan Capitalization Weighted Stock Index (TAIEX) rose 314.73 points to end the week at 24,494.58, with turnover reaching NT$416 billion (US$13.7 billion). TSMC and MediaTek led the gains, while construction stocks and high-priced shares also performed well.

Key Takeaways:

• The TAIEX rose 314.73 points to end at 24,494.58, with a weekly gain of 261.48 points.
• TSMC climbed 1.72% to NT$1,180, while MediaTek rose 3.61% to NT$1,435.
• Nanya Technology and Winbond Electronics both reached the daily limit, with trading volumes of over 161 million shares and 226 million shares, respectively.
• Construction stocks extended their upward trend, with Chainqui Construction Development and Yungshin Construction and Development hitting the daily limit.
• High-priced shares also performed well, with Accton Technology and Foistek advancing 4.62% and nearly 6%, respectively.
• Mega International Investment Services Vice President Huang Kuo-wei noted that the index has shown steady momentum and could approach its record high of 24,570.15.
• Analysts pointed out that electronics and defense shares remain the main drivers in the short term, with TSMC expected to stay in focus due to its AI-related growth.
• Weaker US job data has reinforced expectations of rate cuts, providing support for equities and electronics stocks.

Statistics:

• TAIEX gain: 314.73 points
• Turnover: NT$416 billion (US$13.7 billion)
• Combined market capitalization: NT$78.95 trillion
• Increase in market capitalization: NT$845.6 billion
• TSMC gain: 1.72%
• MediaTek gain: 3.61%
• Nanya Technology trading volume: over 161 million shares
• Winbond Electronics trading volume: over 226 million shares

Sources:

• CNA
• CTEE
• Mega International Investment Services