Taiex Opens Higher and Moves Higher, Up 583 Points
The Taiex opened higher and moved higher today (13th), surging by over a thousand points intraday to 44,489.48 points, before gains narrowed, with the weighted index closing at 43,675.12 points, up 583.25 points, or 1.35%, with turnover reaching 9,162.55 billion yuan. NVIDIA founder Jensen Huang announced his resignation yesterday (12th), NVIDIA shares once plunged 14%, and the four major U.S. stock indexes also fell sharply together, but the Taiex opened with a gap higher today without obvious drag, closing up 583 points.
Index-Pulled Structure With TSMC Supporting the Market
Securities and futures dual-licensed analyst Weng Weijie analyzed that the Taiex continued to rebound today, showing an "index-pulled" pattern, mainly driven by TSMC lifting the index higher, while other AI supply-chain groups were polarized, mostly "opening high and moving low"; financial shares also showed no notable performance, with the overall market in a weak-rebound structure. What is reassuring is that foreign investors did not seem to continue heavily selling during the session, so the Taiex should still have a chance to stabilize directly.
Pre-Election Support Eyes 46000 Quarterly Line
Looking ahead to next week, Weng Weijie said next week is the week before the nine-in-one elections, and he expects government support and market performance to remain stable, with a chance to continue challenging 4萬6000 points and the quarterly line. He believes the negative news on Jensen Huang mainly affected NVIDIA's share price, with limited impact on the Taiex and overall U.S. stocks, and that next week can still steadily challenge the 4萬6000-point quarterly line.
Regarding the Taiex's muted reaction to Jensen Huang's scandal through last night's resignation, Weng Weijie believes Huang's personal conduct cannot affect cooperation between NVIDIA and Taiwan supply-chain manufacturers, and Huang's stay or departure makes no difference. From NVIDIA's perspective, at this stage it needs to quickly calm the storm to stabilize the market and restore investor confidence, making it even less likely to alter cooperation with Taiwan's supply chain during this period, while Taiwan supply chains, supported by the short-term rebound structure and the National Stabilization Fund's entry, will also not reflect the Huang negative news. For U.S. stocks, the negative news was only specific to NVIDIA as an individual company, with no overall pressure on U.S. stocks seen last night; instead Qualcomm (Qualcomm) and AMD (AMD) rebounded against the trend as their major competitor faced management instability.