NVIDIA's Strong Earnings Propel Taiwan Stocks to 1,441-Point Intraday Gain, 7th Largest in History

(CNA, by reporter Wu Chia-hao, Taipei, 21st) The Taiwan stock market staged a revenge rally today. Boosted by NVIDIA's better-than-expected financial report and outlook, along with a retreat in U.S. Treasury yields from their highs, the TAIEX reached an intraday high of 41,461.93 points, a massive surge of 1,441 points. This marked the 7th largest intraday point gain in the history of Taiwan stocks, completely dispelling the gloom from yesterday's suppressed settlement of TAIEX futures. As of around 10:37 AM, the TAIEX was at 41,348.98 points, up 1,328.16 points, or 3.32%, with a turnover of NT$603.544 billion. The electronics and semiconductor indices were the strongest performers today, both posting intraday gains of over 3%. With the financial report and outlook from artificial intelligence (AI) chip giant NVIDIA both exceeding expectations, the valuation headroom for tech stocks has opened up again. Bellwether stock TSMC reached an intraday high of NT$2,245, up 2.75%; MediaTek, after its period of dispositional trading ended, surged to its limit-up price of NT$3,550 today; Delta Electronics jumped to NT$2,060, a strong gain of over 7%. The passive components sector saw another wave of price hikes, with multiple stocks including Yageo, Walsin Technology, HolyStone, Prosperity Dielectrics, KEMET, U-Cap, and Samje-KY hitting their limit-up prices. The printed circuit board (PCB) sector also became a target for capital, with Nanya PCB hitting its limit-up of NT$151, and TUC reaching an intraday high of NT$4,785, a strong gain of over 8%. (Editor: Chang Liang-chih) 1150521