US Stocks S&P and Nasdaq Hit Record Highs; Analysts: Market Focus Back on Fundamentals

(CNA Taipei, 28th) Markets are focusing on tech earnings and Middle East developments. Analysts point out that AI leader Nvidia's market value has reached new highs, and with the Middle East situation easing as Iran signals reconciliation, market focus is expected to return to fundamentals, leading to continued upward volatility.

The S&P 500 and Nasdaq both hit record highs, with TSMC ADR closing up 0.63% at a historic high of $404.98.

On the 27th, the Dow Jones fell 62.92 points (0.13%) to 49,167.79, while the S&P 500 rose 8.83 points (0.12%) to 7,173.91. The tech-heavy Nasdaq rose 50.50 points (0.20%) to 24,887.10, and the Philadelphia Semiconductor Index fell 105.63 points (1%) to 10,408.04.

Taiwan's stock market hit the 40,000 mark for the first time on the 27th, reaching an intraday high of 40,194.92, up 1,262.52 points. This was primarily driven by TSMC hitting a record high of TWD 2,330. Although it retracted late in the session, the index closed at a record high of 39,616.63.

Institutional investors sold a net TWD 48.22 billion on the 27th. Regarding industry news, memory manufacturer Macronix reported a 90% QoQ revenue increase for NAND Flash in Q1. Chairman Miin Wu expects stronger growth in Q2 and price increases in the second half of the year.

EMS giant Pegatron stated in its annual report that AI innovations are driving demand for hardware and infrastructure, with good growth expected in servers, automotive, and networking products.

Cement maker TCC announced that its EnergyArk concrete energy storage safety technology has obtained EU patents, completing its patent layout across Taiwan, US, Japan, and Europe. It has also signed a cooperation agreement with a major French retailer to sell 'power services' instead of just equipment. (Editor: Chang Chun-mao) 1150428