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34 stocks hit new highs Thursday as volume tops NT$ 100 billion

34 stocks hit new highs Thursday as volume tops NT$ 100 billion

Intended day trading expansions by the FSC and buying by foreign investors drove both volume and prices higher Thursday with the TAIEX steady at 8,700 and value of shares traded bouncing back to NT$100 billion, according to Economic Daily News. Largan Precision (3008) and Hermes Microvision (3658) were among 34 listed and OTC stocks to hit new highs.

The impetus for this run originated with the most heavily weighted stock on the index, TSMC (2330). Strong demand for its 28nm process originating from clients such as MediaTek (2454) and Hisilicon and TSMC’s upward revision of its Q1 earnings forecast caused the stock to open high on Thursday.

Both TSMC’s stock price and market cap set record highs Thursday with TSMC’s market cap topping NT$3 trillion. TSMC’s equity of NT$259.28 billion equates to a market cap of NT$3.02 trillion. TSMC closed at NT$115 on Friday, down NT$1.5 (-1.29%).

On the heels of TSMC’s strong showing, weighted stocks and high-priced stocks led the TAIEX higher on Thursday. Among weighted stocks, Delta Electronics (2308) posted its best showing since 1999.

As for small and mid cap stocks, the OTC index started strong and never wavered with semiconductor and creative content stocks leading the way. Soft-World International Corporation (5478), eMemory Technology (3529), and User Joy (3546) were all limit up.

In terms of institutional investors, as international markets stabilize, foreign investment has gradually returned. On Thursday, foreign investors’ net shares purchased totaled NT$5.49 billion, investment trusts’ net shares sold totaled NT$100 million, and dealers’ net shares purchased totaled NT$1.85 billion for a combined total of NT$7.17 billion in net shares purchased.


Updated : 2021-02-25 18:51 GMT+08:00