TAIPEI (Taiwan News) — Taiwan’s stock market fluctuated on Wednesday, setting another intraday high before profit-taking brought the index lower.
The Taiwan Capitalization Weighted Stock Index (TAIEX) moved within a range of more than 300 points, reaching 26,394.03 before closing down 50.64 points at 26,196.73. Turnover totaled NT$498 billion (US$16.4 billion), according to CNA and CTEE.
TSMC touched a record NT$1,355 during the session before ending unchanged at NT$1,340. Foxconn rose 0.9% to NT$223, while MediaTek declined 3.27% to NT$1,330.
Delta Electronics edged down 0.22% to NT$891. Earlier this month, Credit Lyonnais Securities Asia and Morgan Stanley raised their target prices for Delta to NT$900 and NT$880, respectively, while a domestic brokerage issued a higher forecast of NT$1,050.
Quanta Computer reported after-hours block trades, including 252 lots, or 252,000 shares, at the limit-up price of NT$315 worth NT$79.4 million, and 59 lots averaging NT$283.31 worth NT$16.7 million.
Nvidia’s announcement of a US$100 billion investment in OpenAI lifted expectations for electricity demand related to AI. Teco Electric and Machinery, a supplier of heavy electrical equipment, rose nearly 8% to surpass NT$100, extending its three-day gain to over 25% on high trading volume
Compal Electronics closed at the daily limit of NT$34.5, its highest since March 28, after reportedly securing a Dell AI server order valued at over NT$100 billion. Trading totaled nearly 130,000 lots, with 126,000 buy orders remaining unfilled.
Biotech shares advanced on twin boosts. Lotus Pharmaceutical announced a NT$20 billion acquisition that will place it among the world’s top 20 specialty drugmakers.
Bionet obtained regulatory approval to use stem cell-derived exosomes in cosmetics. Both closed at the limit-up, boosting subsidiary Genetics Generation Advancement and Sofiva Genomics.
Semiconductor equipment maker Scientech ended at the limit-up of NT$426.5 after an Australian brokerage raised its target price to NT$450, citing demand for advanced packaging.
The number of companies with share prices above NT$1,000 declined to 22 after Asia Vital Components fell 2.07% to NT$994. Market leader Aspeed Technology, meanwhile, increased 1.17% to NT$5,175.
Cathay Securities Investment Consulting Manager Tsai Ming-han (蔡明翰) said the index has repeatedly set new highs this month, supported by liquidity and interest in AI-related shares. He added that profit-taking appeared after the market passed the 26,000-point level.
Tsai also noted that if US inflation data is stronger than expected, the likelihood of another rate cut before year-end may weaken, raising the risk of a market pullback.
This information is not intended as personalized financial advice. Investors should conduct their own research before making investment decisions.
