Opens Up 423 Points to Reclaim 43K
Taiwan stocks on the 11th shrugged off weakness in U.S. stocks, with the TAIEX opening at 43,135.76 points, up 423.84 points or about 0.99%, directly retaking the 43,000-point mark. Compared with the previous session's close of 42,711.92 points, the 423.84-point gain at the open showed clear buying momentum, laying the foundation for morning strength.
Intraday High of 43,384 Points, Up 1.58%
Buying continued to push the index higher after the open, with the intraday high reaching 43,384.53 points, up 672.61 points or about 1.58% from yesterday's close. From holding firm above 43K at the open to widening gains intraday, Taiwan stocks showed relative morning strength, decoupling from the previous day's weakness in U.S. stocks. It remains to be seen whether heavyweights can extend gains, and whether turnover expands in tandem.
All Four U.S. Indexes Closed Lower
U.S. stocks fell in sync on Tuesday, weighed by hotter-than-expected inflation data and concerns over further rate hikes by the Federal Reserve. The Dow Jones Industrial Average closed at 52,231.89 points, down 157.86 points or 0.30%. The S&P 500 closed at 7,520.93 points, down 29.01 points or 0.38%. The Nasdaq Composite closed at 25,065.87 points, down 187.26 points or 0.74%. The Philadelphia Semiconductor Index closed at 9,998.3 points, down 35.6 points or 0.35%.
TSMC Rises 45 to 2330
Among heavyweights, TSMC 2330 opened up 45 to 2,330. Hon Hai 2317 rose 0.5 to 242. MediaTek 2454 rose 75 to 3,905, with heavyweight electronics leading the index higher. Looking back at the previous session, Taiwan stocks were strong on November 10, with the TAIEX closing at 42,711.92 points, surging 1,050.22 points or 2.52%, with turnover of about 1 trillion 322.51 billion. Against the backdrop of a broad sell-off in U.S. stocks, Taiwan stocks still extended the previous day's strength to open high and move higher. Investments carry risks; please read the prospectus carefully before subscribing.