U.S. Tech Rally Lifts Taiwan Stocks
Taiwan stocks today (10th) have a chance to extend their rebound. Inspired by a sharp rally in U.S. tech stocks, the Philadelphia Semiconductor Index surged 6.85%, leading the four major U.S. indexes. On Monday, the four major U.S. indexes opened higher and moved higher, as easing geopolitical risks lifted the market, extending last Friday's rebound. Analyst Lin Hanwei said electronics heavyweights are expected to keep pushing the index higher, while for small- and mid-caps, investors should watch follow-through buying in mainstream AI stocks.
Mixed Performance for Semiconductors and Tech Giants
Among semiconductor stocks, Coherent surged 16.79% and AMD surged 13.26%, posting strong gains. Tech giants were mixed, with Nvidia falling 4.27% and SpaceX rising 5.81%. Lin Hanwei noted that before the U.S. market opened, reports that Iran intended to ease its negotiating terms drove international oil prices lower and cooled market risk aversion. Although Nvidia weakened on news related to a Jensen Huang espionage case, tech stocks overall maintained their rebound.
Bullish Macro Backdrop, TAIFEX Night Session Jumps
On the macro front, a softer dollar, lower U.S. Treasury yields, and mostly lower international oil prices favored risk assets. The TAIFEX night session jumped 1,064 points, or 2.57%, supporting a continued rebound in Taiwan stocks on Tuesday. TSMC ADR rose 3.51%, retaking the yearly line, and electronics heavyweights are expected to keep stabilizing. TSMC futures rose NT$30 in the night session to NT$2,262, challenging Monday's rebound high and becoming a key indicator for today's session.
Three Keys for Today and Sector Focus
Lin Hanwei stressed that today's three most important keys are "5-day moving average resistance, trading volume, and foreign-investor short positions." By group, among traditional and thematic stocks, shipping stocks Evergreen, China Airlines, Wan Hai, and EVA Air rebounded together; green energy stocks Canghe, Guoshuo, United Renewable Energy, and Motech continued to move higher; low-earth-orbit satellite stocks Compeq, Shengda Tech, WIN Semiconductors, and Wistron NeWeb saw buying return; October revenue stocks Alltek, Red Optical, Huahong Information, and FOCI posted strong results; robotics stocks Bintai, Mirle, Tongtai, and Takisawa Tech generally stabilized. On the electronics side, substrates Unimicron, Kinsus, Zhen Ding-KY, and Nan Ya PCB, PCB Fuqiao, Gold Circuit, Nan Ya, and Taiwan Glass, memory Nanya Technology, Winbond, Powerchip, and Phison, passive components Xinchang Electric, Holy Stone, Walsin Technology, and Yageo rebounded together; IC design MediaTek, Global Unichip, Alchip-KY, and ESMT, silicon photonics LandMark, LuxNet, Browave, and Shangquan, AI servers Wistron, Quanta, Hon Hai, and Asia Vital Components, software Huajing, Lixin, Smartlink Service, and MetaAge, as well as investment-trust-held stocks TSMT, AP Memory, Kaori, and Genius Electronic Optical are all key areas to watch.