Taiwan Stocks Open Higher and Extend Gains to Over 700 Points
Taipei stocks today (28th) opened up 306.56 points at 46,402.79, with gains later expanding to over 700 points. Continued return of buying in AI themes, along with falling international oil prices lifting market sentiment, and a 774-point rise in TAIFEX night-session futures provided support for the day session. As the broader market opened higher, small and mid-cap stocks rose together, with the OTC index opening up 3.26 points at 382.46, showing recovering market funding momentum.
Heavyweights All Advance, TSMC Up NT$20
Heavyweight stocks all advanced today, with bellwether TSMC opening up NT$20 at NT$2,420; MediaTek opening up NT$80 at NT$4,040; and Delta Electronics opening up NT$55 at NT$1,650. Strong stocks with heavy opening volume were AUO, PSMC, Tongtai, Fulltech, and Taiwan Glass; weak stocks with heavy opening volume were Tex Year, Binchuan, Acer, Zhenfa, and Hua Nan Financial, with the market diverging but led higher by heavyweights.
AI Theme Warms, Extending Semiconductor Rally
After Claude developer Anthropic filed for a Nasdaq listing, market enthusiasm for AI themes warmed. In addition, Meta's $25 billion stock offering drew subscription demand reaching 5 times the issuance size, also supporting AI investment momentum; Oracle will offer cloud services based on Cerebras computers in its data centers, expanding its AI computing product lineup and helping semiconductor stocks extend Monday's rally, becoming a key driver lifting Taiwan stocks.
All US Stocks Higher, Focus on Fed Rate Decision
US stocks all moved higher on Tuesday, with the Dow Jones rising 15.99 points or 0.03% to 52,377.57; the Nasdaq rising 308.43 points or 1.18% to 26,477.81; the S&P 500 rising 45.83 points or 0.60% to 7,722.60; and the Philadelphia Semiconductor Index rising 399.04 points or 3.60% to 11,482.51. TAIFEX night-session futures opened low and moved high, touching 47,000 intraday and closing up 774 points or 1.68% at 46,880; TSMC futures closed after hours up NT$42 or 1.75% at NT$2,438. The Federal Reserve will announce its rate decision on Wednesday, with the market widely expecting no change, and focus on Chairman Warsh's comments on inflation and whether rates will be raised again at year-end.