Taiwan stocks are currently engaged in a fierce “wheel-war” among NVIDIA GTC concept stocks, aiming to turn positive and hold above the 19,800 point level. This reflects the market’s high interest and expectations in the NVIDIA GTC conference and related concept stocks.

By admin Mar 19, 2024

In the Taiwan stock market today (19th), despite the absence of the three major weighted stocks, Delta Electronics (2308-TW), Pegatron (4938-TW), UMC (2303-TW), and XinXing (3037-TW) led the rotation with gains, flipping the market from losses to gains, reclaiming the key level of 19,900 points, edging closer to the 20,000 mark, and returning above the five-day moving average.

The performance of weighted stocks diverged today, with TSMC (2330-TW), Hon Hai (2317-TW), and MediaTek (2454-TW) opening lower but gradually rebounding to minor declines within 1%. Delta Electronics surged by 4%, playing a significant role in the bullish momentum, while UMC also saw a 2% increase. Major financial stocks also exhibited strength, supporting the overall market trend.

The trading focus today remained in the heavy electrical sector, with Mosel Vitelic (1503-TW) surging over 4%, reaching a historic high and ranking third in total market trading value, nearing 9 billion NT dollars. Index stock Cheng Uei Precision (1513-TW) also rose by nearly 2%, while others like Tong Hsing (1504-TW) and Tatung (2371-TW) also showed positive movements.

Furthermore, the NVIDIA GTC conference kicked off, with NVIDIA CEO Jensen Huang announcing the launch of the new AI chip Blackwell B200. Several Taiwanese companies have joined NVIDIA’s new chip supply chain, including Pegatron, Foxconn, ASRock, Gigabyte, Elitegroup, TSMC, Wistron, Wiwynn, and Quanta Cloud Technology under WPG Holdings. Related supply chain companies like XinXing and Pegatron showed strong upward movements, while Wistron and Quanta remained stable.

In addition, companies related to CoWoS equipment continued to show strength, with Unimicron (3131-TW) surging nearly 9% to surpass the thousand-point mark and Accton (3583-TW) recording a 1% increase.

By admin

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