Strong U.S. Market Spurs Higher Open
Strength in U.S. AI chip stocks lifted market sentiment, and with TSMC ADR rising 2.95%, Taiwan stocks opened higher and moved higher on October 28, surging over 850 points intraday to a high of 46949.98, moving back above the quarterly line at about 46392. Gains later narrowed, and by Topoint 11:22 AM, the weighted index stood at 46823.98, up 727.75 points or 1.58%, in choppy trading. In the previous session, Taiwan stocks closed at 46096.23.
TSMC Climbs to 2430 as Heavyweights Lead Gains
Electronic heavyweights rose broadly, TSMC hit an intraday high of 2430, anchoring the market. MediaTek rose over 5%, ASE Technology Holding rose over 6%, posting the strongest gains; Hon Hai and Delta Electronics edged up together. Overall electronics sentiment recovered, supporting the index above the quarterly line, with bulls clearly in control.
Memory and High-Priced Stocks Outperform
In memory names, Nanya Technology rose about 4%, and passive-component maker Yageo rose 4.6%. Electronic components, optoelectronics and plastics held firm, while financials turned from down to up. High-priced stocks also drew attention, with stock queen King Slide returning above 10000 intraday, and Chunghwa Precision Test and Genius Electronic Optical hitting limit-up, as Taiwan's 47 thousand-yuan stocks stayed strong, showing continued willingness to chase prices.
Support From Broad Gains in Four Major U.S. Indexes
All four major U.S. indexes closed higher, with the Dow Jones Industrial Average up 15.99 points or 0.03% to close at 52377.57; the S&P 500 up 45.83 points or 0.6% to close at 7722.6; the Nasdaq up 308.43 points or 1.18% to close at 26477.81; and the Philadelphia Semiconductor Index surging 399.03 points or 3.6% to close at 11482.5. AI chip leader Nvidia rose 0.9%, and semiconductor strength provided key support for Taiwan stocks' intraday surge. Investing involves risks, with possible gains and losses, and should be evaluated prudently.