TAIPEI (Taiwan News) — Taiwan's stock market soared by over 300 points, especially Nvidia CEO Jensen Huang (黃仁勳) on Sunday (June 2) with electronics stocks accounting for over 65% of trading volume.
During his speech on the eve of Computex Taipei at National Taiwan University, Huang said everything his firm does begins in Taiwan before being brought to the world. In an AI version of himself, he declared "Taiwan is the unsung hero, a steadfast pillar of the world."
His remarks caused a surge in "Jensen Huang Concept Stocks" on Monday (June 3), pushing the stock market up 362 points, reported CNA.
In his speech, Huang thanked his Taiwanese supply chain partners for being the “bedrock for the AI industrial revolution.” The video showed a map of Taiwan surrounded by NVIDIA's partners.
The suppliers highlighted in the video saw their stock prices surge Monday, leading the Taiwan stock market to rise by more than 400 points, reaching a peak of 438 points at 21,612.54 points, recovering the monthly and short-term moving averages. The market remained strong after midday, closing at 21,536.76 points, up 362.54 points, standing above all moving averages.
Monday's market turnover was NT$433.321 billion, with electronics stocks rising 2.3% by the close, financial stocks up 0.59%, and computer and peripheral equipment stocks, primarily AI server concept stocks, rising 2.06%. Electronics accounted for about 65.6% of the total market turnover.
“AI chip concept stock” TSMC closed at NT$846, up 3.05%, with a market value of NT$21.94 trillion. ASE Technology Holding Co. closed at NT$161, up 2.55%, Unimicron up 3.29% to NT$188.5, and King Yuan Electronics Corp. up 2.83% to NT$90.7.
As for “AI server and AI factory concept stocks," Foxconn closed at NT$176.5 up 2.62%, Delta Electronics at NT$337 up 3.69%, Quanta at NT$282.5 up 3.1%, Wistron at NT$114 up 1.79%, Wiwynn at NT$2565 up 3.85%, Pegatron up 5.19% to NT$111.5, Gigabyte Technology up 1.73% to NT$323.5, and Inventec up 2.24% to NT$54.7.
Regarding “AI PC concept stocks," Acer closed at NT$52.5 down 0.76% and Asus closed at NT$509 down 0.78%. Among the “AI robotics concept stocks,” Advantech rose 2.55% to NT$362, Kenmec reached the daily limit at NT$134.5, Mirle Automation Co. rose 5.84% to NT$72.5, and Solomon went up 2.86% to NT$180.
Huang Yu-min (黃鈺民), an ETF fund manager at Taishin Securities Investment Trust, told CNA the AI sector's leadership has pushed the weighted index to new highs. Huang said the long-term outlook for the AI industry remains positive, with related supply chain performance viewed positively.
Huang said the demand for consumer electronics, such as personal and notebook computers, is gradually improving. Looking ahead, Huang pointed out that despite the recent message from the U.S. Federal Reserve about ongoing inflation monitoring, the overall economic outlook remains stable.
Companies' fundamentals are expected to be better in the year's second half compared to the first half, predicted Huang. The long-term outlook for Taiwan's stock market remains cautiously optimistic, with the AI sector and small to medium-sized stocks expected to perform well, said Huang.
