TAIPEI (Taiwan News) — Taiwan’s stock market opened higher Tuesday, fueled by a surge in US tech stocks.
The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed up 103.56 points at 23651.27, compared to a gain of 639.41 points Monday. Turnover totaled NT$425.48 billion (US$12.9 billion), per CNA.
TSMC's share price hit an intraday high of NT$1,160 (US$35.40) Tuesday before paring gains to close up NT$5 at NT$1,130. Both the intraday high and closing price marked new record levels, per CNA.
The company's investor conference is scheduled for Jan. 16, where the market expects positive news. TSMC’s performance is projected to grow by double digits this year, driven by strong AI demands, potentially setting new records.
Foxconn rose NT$5.5 to close at NT$190.
MediaTek’s share price briefly dipped into negative territory before surging, closing up NT$65 at NT$1,490, nearing its all-time high. This followed news of a collaboration with Nvidia to design the GB10 superchip for the company's personal AI supercomputers.
Nvidia unveiled several products at the US Consumer Electronics Show, which opened Tuesday. Among them was the AI supercomputer Project Digits, powered by the GB10 superchip co-designed with MediaTek.
AI chip research analyst Wang Hsuan-chi (王宣智) believes the GB10 superchip was a major highlight of Nvidia CEO Jensen Huang's (黃仁勳) keynote address. While most current AI solutions still rely on cloud services, the GB10 can be assembled into a mini-computer, providing enterprises and developers with the capability to train AI models and develop AI solutions, per Yahoo News.
Taiwan's stock market has fluctuated since the start of the year, but CTBC Investments forecasts a positive rebound driven by AI advancements, TSMC's leadership, and the upcoming peak season for investor conferences. Major investor conferences are scheduled, including those for TSMC, Largan Precision, and Delta Electronics.