TSMC surges NT$85, Taiwan stocks up over 1,000 points to 47,000 in early trading

(CNA, reporter Zeng Renkai, Taipei, July 1) The four major US stock indices rose in unison, with the semiconductor sector showing particularly strong performance. TSMC's ADR stock price surged 4.94%, extending its streak to two consecutive long green candles, which spurred the Taiwan stock market to open higher today. In early trading, it rose over 1,000 points, reclaiming the 47,000-point mark. As of 9:10 AM, the Taiwan Stock Exchange Capitalization Weighted Stock Index rose 1055.58 points to 47181.49 points. The OTC Index, representing small and mid-cap stocks, also opened higher.

The four major weighted stocks opened higher simultaneously. TSMC rose by as much as NT$85 to NT$2495; MediaTek rose by as much as NT$135 to NT$4380; Delta Electronics rose by as much as NT$70 to NT$2020; and Hon Hai rose by as much as NT$4.5 to NT$255.5.

Institutional investors analyzed that the Taiwan stock market has shown a sharp rally since the beginning of the year. After significant gains, it has become sensitive, and its recent trend has shown increased volatility. However, demand for the AI industry continues. TSMC is scheduled to hold its second-quarter earnings conference call on July 16, which is expected to ignite a pre-conference call rally. The outlook for the Taiwan stock market remains positive with upward potential. (Editor: Yang Kai-hsiang) 1150701

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