US Stocks Rebound, NVIDIA Earnings Exceed Expectations; Taiex Expected to Reclaim Monthly Average, Say Analysts

(Central News Agency, Taipei, 21st, by reporter Wu Chia-hao) Major US stock indices rebounded to close in the green, with all gains exceeding 1%. Investment advisory firms point out that with falling crude oil prices, the US 10-year Treasury yield dropping below 4.6%, better-than-expected earnings from NVIDIA, and strong April export order data from Taiwan, the Taiwan Stock Exchange (Taiex) is expected to reclaim the monthly moving average of around 40,355 points and challenge its historical high again. On the 20th, the Dow Jones Industrial Average rose by 645.47 points or 1.31% to close at 50009.35 points; the S&P 500 index gained 79.36 points or 1.08% to end at 7432.97 points; the Nasdaq Composite surged 399.65 points or 1.54% to 26270.36 points; and the Philadelphia Semiconductor Index soared 507.79 points or 4.49% to 11813.29 points. On the 20th, the Taiex continued its correction and was affected by the settlement of Taiwan stock index futures, leading to cautious buying from bulls. The index fell to a low of 39967.08 points during the session. It managed to hold the 40,000-point integer mark at the close, ending at 40020.82 points, down 154.74 points, with a turnover of NT$978.923 billion. The three major institutional investors collectively net sold NT$57.272 billion in Taiwan stocks on the 20th. Among them, proprietary traders net sold NT$19.570 billion, marking the 7th consecutive day of selling; investment trusts net bought NT$8.937 billion, for the 3rd consecutive day of buying; and foreign and Mainland Chinese investors net sold NT$46.639 billion, for the 4th consecutive day of selling. In industry news, AI chip giant NVIDIA announced its first-quarter financial results for fiscal year 2027 early this morning. Both total revenue and the second-quarter forecast surpassed analysts' expectations, though the forecast did not meet the market's most optimistic hopes. NVIDIA CEO Jensen Huang stated that the next-generation AI cabinet system, Vera Rubin, has had a very strong start as NVIDIA is rapidly increasing its market share in AI inference, and Vera Rubin may remain sold out throughout its entire product lifecycle. Chip giant AMD's Chairman and CEO, Lisa Su, arrived at Taipei Songshan Airport on a private jet on the afternoon of the 20th to begin her visit to Taiwan. On the 21st, she will attend a full day of closed-door meetings at a hotel in Taipei, and on the morning of the 22nd, she will attend the "CommonWealth Magazine 45th Anniversary Flagship Forum" for a summit dialogue. EVA Airways reported a first-quarter earnings per share of NT$1.53, a record high for the same period. EVA Air stated that in the first quarter, benefiting from the long Lunar New Year holiday and the cherry blossom viewing season, passenger revenue reached a record high, and the Middle East war increased demand on European and American routes, with a strong performance in March