Taipei stocks opened higher and moved higher on the 28th, closing up 939.35 points at 47035.58 points, reclaiming the 47000 mark, with trading volume at 7221.35億元. After the broader market went through a consecutive correction and lost the quarterly moving average, this rebound is seen as a recovery after a technical bottoming, with the market watching whether it can hold above the quarterly moving average.
Gains in Philadelphia Semiconductor Index Led by TSMC
The U.S. Philadelphia Semiconductor Index rose 3.6%, helping stabilize market sentiment. TSMC rose NT$25 to NT$2425, becoming the main heavyweight driving the index higher. In addition, AI startup Anthropic has filed its initial public offering prospectus, with market reports of a valuation of US$1.5 trillion to US$2 trillion, reigniting attention on funding for AI hardware and infrastructure demand, benefiting related supply chains in Taiwan.
Memory Stocks Strengthen
Memory stocks rebounded in tandem, with Nanya Technology rising over 8% at one point, while Winbond and Elite Semiconductor Memory Technology also moved higher. As supply of high-bandwidth memory and advanced chips remains tight, supply pressure at South Korea's Samsung Electronics has drawn market attention, with some buying shifting toward backup options, and Taiwan's mature-process and niche memory makers seen as relatively stable supply alternatives.
Central Bank on Currency Market and Institutional Views
Central Bank Governor Yang Chin-long said during a briefing at the Legislative Yuan that foreign investors prefer Taiwan stocks over South Korean stocks. He said the Korean won has shown sharp volatility with large depreciations and appreciations, while Taiwan's central bank smooths adjustments under a flexible willow theory, keeping the New Taiwan dollar exchange rate and financial performance relatively stable. With U.S. Treasury yields topping 5% and global currency markets in turmoil, exchange-rate stability has become one of the factors in foreign investors' assessments. Taishin Investment Advisory strategist Huang Wen-ching and several institutions believe that after consecutive declines in margin financing, panic selling has eased, and if the index can firmly hold the quarterly moving average, it could challenge the 48000 mark, but with international oil prices and U.S. Treasury yields still high, they advise building positions in batches and focusing on stocks with better-than-expected investor conferences and quarterly results.