In the Taiwan stock market post-trading session, both TSMC and Hon Hai (Foxconn) showed strong performance, leading the overall market to close with a gain of 197 points and surpassing the 5-day moving average.

By admin Mar 18, 2024

In the Taiwan stock market today (18th), driven by the strength of heavyweight stocks TSMC (2330-TW) and Hon Hai (Foxconn) (2317-TW), the entire market was led by electronic stocks. Market funds also heavily favored PCBs, heat dissipation modules, and heavy electronics sectors. The closing index surged by 197.35 points to reach 19879.85 points, reclaiming above the 5-day moving average. Market experts noted that the trading volume in the Taiwan stock market remains stable, maintaining a pattern of steady and resilient market performance.

Cathay Futures Consultant Vice Manager Jian Boyi pointed out that given the rotational rise in sectors, the Taiwan stock market is expected to demonstrate a pattern of steady performance with fluctuations. However, investors should be cautious and carefully manage their positions.

Securities analyst Huang Hancheng stated that the Taiwan stock market is showing strength and may potentially surpass the 20,000-point mark once again. Today’s upward trend in the market indicates support from the 10-day moving average, but investors should carefully evaluate their risk tolerance before entering the market.

In terms of currency exchange trends, the Taipei Stock Exchange showed a different trajectory today. While the stock market surged by over 100 points in the morning session, the currency market displayed a different tone due to the impact of the strengthening US dollar. The Taiwan dollar against the US dollar fluctuated lower in the morning and depreciated by 0.3% at midday, closing at 31.623 NT dollars.

In the Taiwan Stock Exchange centralized market, the main index opened at 19706.11 points, reached a high of 19879.86 points, a low of 19706.11 points, and closed at 19879.85 points, up by 197.35 points from the previous trading day. The total market turnover was 420.126 billion NT dollars.

In specific stock movements, semiconductor giant TSMC, Hon Hai, and Largan Precision (3008-TW) saw gains, with Largan Precision closing up by 5 NT dollars at 2520 NT dollars, with reduced trading volume. Optical component stock Yujingguang (3406-TW) demonstrated lively performance, closing up by 10.5 NT dollars or 2.51% at 428 NT dollars, with a trading volume of 2003 shares.

As the demand for high-end ABF materials gradually increases, ABF-related stocks Xin Xing (3037-TW), Jinsco (3189-TW), and Nanya Electric (8046-TW) all saw price increases today, with Xin Xing showing the strongest performance, closing up by 8.27% at 187 NT dollars.

TSMC went ex-dividend today, opening at 754 NT dollars, hitting a low of the day, reaching a high of 765 NT dollars, and closing at 764 NT dollars with a trading volume of 43,500 shares.

Container shipping stocks Evergreen (2603-TW), Yang Ming (2609-TW), and Wan Hai (2615-TW) all closed in the negative territory today.

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