TAIPEI (Taiwan News) — Taiwan's stock market rebounded Friday, overcoming an early slump and outpacing major regional markets despite declines in US indexes.
The Taiwan Stock Exchange Capitalization Weighted Stock Index, or TAIEX, swung more than 1,100 points intraday. The rebound was largely fueled by gains in major heavyweight stocks and the AI and shipping sectors, per CNA and CTEE.
The TAIEX closed up 528.74 points at 19,528.77. Turnover totaled NT$514 billion (US$15.8 billion).
TSMC saw a 3.01% increase to NT$889 (US$27), with investors anticipating its upcoming earnings report. MediaTek, after hosting its Dimensity Developer Conference in Shenzhen, surged by 6.54% to NT$1,385, while Foxconn rallied 8.91% to NT$134.5.
The AI server sector experienced a sharp recovery. Quanta Computer and Wistron hit daily limits, while Inventec gained 7%.
There were also notable changes in the rankings of stocks priced over NT$1,000, with eMemory Technology surpassing Alchip Technologies after hitting limit-up. Aspeed Technology remained the highest-priced stock, rising over 8%.
The shipping sector saw a surge in response to expectations of a shipping rush following a pause on US tariffs. Wan Hai Lines, Yang Ming Marine Transport, and Evergreen Marine all hit daily limit-ups, with bulk carriers and newcomers like Sincere Navigation and Wisdom Marine Lines also posting strong gains.
Airline stocks also gained, with Eva Air and China Airlines hitting daily limits. The shipping and aviation sub-index rose by 7%.
Analysts attributed the market's rebound to US President Donald Trump's Wednesday announcement that tariffs on all targeted countries, except China, would be temporarily reduced to 10% for 90 days. However, concerns persist following the passage of Trump’s tax cuts and debt ceiling increase plan.
Trump's decision to raise tariffs on Chinese goods to 145% has heightened fears of escalating trade tensions. Additionally, US inflation data showed signs of cooling. March’s consumer price index rose 2.4% year-on-year, and core CPI increased by 2.8%.
Despite a positive market response to the tariff pause, volatility remains high. Analysts suggested that a swift return to the 20,000-point level for the TAIEX is unlikely in the short term.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.
