Index Rebounds Above Quarterly Moving Average
After a cumulative plunge of over 3,200 points in the prior two weeks, Taiwan stocks staged a strong rebound on 28日, surging 939.35 points to close at 47,035.58 points, up 2.04%, retaking the quarterly moving average of around 46,398 points and the 47,000-point整数关卡. The three major institutional investors posted a combined net buy of 298.94億元, the number of high-priced stocks above 1,000元 rose to 49檔, and investors who stayed invested saw a counterattack. Based on the closing price on 28日, Taiwan stocks are about 6.3% away from 50,000 points.
Du Jinlong Sees 6萬點, Tung Tzu-hsien on TSMC
As the index reclaimed 47,000 points, market confidence recovered. According to media reports, senior analyst Du Jinlong stressed that the short-term correction does not mark the end of the bull market, and maintained his view that Taiwan stocks could challenge 53,000 points to 60,000 points in 2027年. Pegatron Chairman Tung Tzu-hsien noted that if TSMC earnings per share exceed 100元 this year, at a current share price of over 2,400元 the P/E ratio is only just over 20 times, with long-term fundamentals remaining healthy. Some analysts cautioned, however, that total market margin balances remain above 6,000億元, chips still need to be digested, and the short-term market may grind higher through volatile consolidation.
All Large Active ETFs Close Higher
According to CMoney, as of 10月28日, all of the top-ten domestic active ETFs, including Taiwan-equity and cross-border types, closed higher, with an average gain of about 3.6%, of which 9檔 outpaced the broader market's 2.04%. The Active Fuh Hwa Future 50 managed by Lu Hongyu, namely 00991A, rose 4.62% on 28日, about 2.26 times the broader market gain, the highest among the 4檔 with scale over 500億元, and above the 4.56% of island-wide's largest active Uni-President Taiwan Stock Growth 00981A. Among the top ten by scale largest, Active Capital Technology Innovation 00992A led with 4.80%, with 00991A ranking second. 00991A has reached 714億元 in scale while still outpacing the broader market.
AI Supply Chain Leads, Institutions Eye Year-End Window Dressing
Of the 50 holdings in 00991A, 39檔 closed higher on 28日, with Kinsus hitting the daily limit, Nanya Technology surging 8.16%, and AI supply-chain names including MediaTek, EMC, Jentech and Aspeed rising in tandem. 00991A holds about 30% in PCB, ABF substrate and copper-clad laminate names, alongside memory and thermal names. Institutions note that tight supply-demand for DRAM and high-end ABF substrates could extend into 2027年, supporting sector fundamentals. The correction in the prior two weeks mainly reflected short-term chip adjustment rather than a reversal in AI demand, and as AI investment extends from model training to inference applications, high-end PCB, memory and thermal names retain growth momentum. Looking toward 第四季至2027年第一季, year-end window dressing and earnings growth expectations could add momentum for Taiwan stocks.