TAIPEI (Taiwan News) — Taiwan’s stock market rebounded Tuesday following recent declines, supported by news from Nvidia’s technology conference.
The Taiwan Capitalization Weighted Stock Index (TAIEX) rose 494.06 points to close at 33,836.57. Turnover totaled NT$818.89 billion (US$25.7 billion), according to CNA and CTEE.
TSMC gained 1.63% to NT$1,870. Delta Electronics rose 5.88% to NT$1,440, MediaTek increased 1.17% to NT$1,730, while Foxconn declined 2.08% to NT$212.
Aspeed Technology, the market’s highest-priced stock, closed at the daily limit of NT$11,320, setting a new record for the highest TAIEX share price. Several domestic and foreign institutions had raised target prices for the integrated circuit design firm above NT$11,000, with Morgan Stanley setting the highest forecast at NT$12,345.
Memory-related stocks attracted buying interest ahead of earnings from Micron, and after Nvidia CEO Jensen Huang (黃仁勳) indicated the company plans to expand its use of memory capacity. Adata Technology and Macronix International reached their daily limit-ups at the open, lifting Elite Semiconductor Microelectronics Technology, Transcend Information, and PSMC.
Announcements at Nvidia’s GTC conference on expanding into space-based artificial intelligence computing supported low-Earth orbit satellite-related stocks. Gemtek Technology and Zinwell reached limit-ups, while Universal Microwave Technology and Compeq Manufacturing also recorded gains.
Thermal solution providers, essential for managing the extreme temperature fluctuations of low-Earth orbit satellites, saw gains. Jentech Precision Industrial reached its daily limit and exceeded NT$3,700 for the first time, while Asia Vital Components and Sunonwealth Electric Machine Industry also advanced, according to Process Industry Informer.
Printed circuit board-related stocks drew early buying interest as Iteq reached limit-up and Elite Material rose 4%, while Unimicron Technology and Nan Ya Printed Circuit Board moved higher. The sector later trimmed gains, with shares closing 1-3% lower.
Integrated circuit substrates, a high-end segment of the PCB industry, are entering a new growth phase, driven by rising demand for AI and high-performance computing. Analysts expect tighter supply and steady demand to support pricing, with Unimicron, Kinsus Interconnect Technology, and Nan Ya projected to record double-digit growth this year, according to CTEE.
Chemical stocks also rose as tensions in the Middle East affected global gas supply and supported prices. Everlight Chemical Industrial and Evermore Chemical Industry both reached limit-ups.
Analysts said that while uncertainties related to geopolitical developments and global interest rates persist, steady business performance and AI demand continue to support the market. However, they noted that sector rotation and valuation levels warrant attention as the index stabilizes, according to CTEE.
Memory stocks have continuously hit record highs. Certain PCB materials, chip design, and low-Earth orbit satellite shares have already factored in recent gains, with valuations relatively high.
Analysts said that stock selection is becoming more important than overall index performance. The TAIEX is expected to trade within a range of 32,500-34,500 points in the near term, with higher-priced stocks potentially facing selling pressure as investors secure gains.
Allianz fund manager Shih Cheng-ting (施政廷) recommended focusing on AI and advanced semiconductor companies with strong technological advantages during periods of market fluctuation. Shih added that sectors that typically maintain stable performance, such as biotechnology and financials, can help mitigate risk.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research before making investment decisions.
