TSMC Sets July 16 for Earnings Call, Analysts Optimistic About Reigniting Taiwan Stock Market Rally

(CNA) July 1, Taipei - TSMC's second-quarter earnings call schedule has been released, set for July 16, potentially igniting an early earnings call rally. On June 30, TSMC's ADR stock price saw its second consecutive long green candlestick, surging 4.94%, which is expected to boost the Taiwan stock market today.

After a period of consolidation last week, the Taiwan stock market index has quickly recovered this week. Yesterday, it surged 1126.01 points, closing at 46125.91 points, reclaiming the 46,000 mark. Analysts are optimistic about the continued demand in the AI industry, suggesting that the Taiwan stock market still has room for upward movement.

Market optimism regarding AI has offset concerns about geopolitical tensions and rising inflation. On June 30, major Wall Street indices closed higher. The Dow Jones Industrial Average rose 136.46 points, or 0.26%, to close at 52319.20 points. The S&P 500 index gained 58.93 points, or 0.79%, to close at 7499.36 points.

The Nasdaq Composite Index, primarily composed of technology stocks, rose 393.58 points, or 1.52%, to close at 26213.72 points. The Philadelphia Semiconductor Index surged 537.30 points, or 3.92%, to close at 14246.96 points.

In terms of individual stocks, the semiconductor sector performed strongly. Memory module manufacturer Sandisk surged $223.34, or 10.89%, to close at $2273.73. Advanced Micro Devices (AMD) rose $41.42, or 7.68%, to close at $580.91. NVIDIA (NVIDIA) gained $5.12, or 2.63%, to close at $200.09; TSMC ADR surged $22.47, or 4.94%, to close at $477.57.

Chang Shu-ting, a fund manager at CTBC Investments, analyzed that the Taiwan stock market has seen a sharp rise this year. In the short term, the Taiwan Weighted Index is at a relatively high point, and after significant gains, it has become more sensitive, leading to increased volatility.

However, Chang Shu-ting believes that the easing of the US-Iran conflict has led to a drop in oil prices, which helps to suppress inflation expectations and reduce pressure on the Federal Reserve to raise interest rates. Simultaneously, the continued demand in the AI industry remains a focus for capital pursuit. Overall, he is optimistic that the Taiwan stock market still possesses a certain upward capability. (Editor: Yang Kai-hsiang) 0701

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