The Taiwan stock market continues its streak of setting historical records as TSMC maintains its upward trend, reaching a peak of NT$796 (US$25.36).
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Recently, each day seems to be witnessing history. Within the first minute of trading on Friday, the market was set to pass the 20,000 mark, once again setting a new intraday high, the highest level reached in a financial market on a particular day.
The main contributors were the semiconductor titans, TSMC and MediaTek, both seeing significant gains in early trading by 11:10 a.m.
TSMC reached a peak of NT$796 (US$25.35) setting a new record, with ongoing aspirations to reach NT$800 (US$25.47). MediaTek also saw a high of NT$1260 (US$40.12) although trading showed fluctuations.
Analyst Chen Wu-chieh (陳武傑) pointed out another significant event this month, when local investors went on a buying spree of ETFs which injected substantial funds into the Taipei stock market. Some small investors liken the Taiwan stock market to "TSMC's own arena," noting that while the market performance appears strong, there are more declining than advancing stocks, marked in green and red respectively. AI-related stocks have been soaring for days, but some sectors are showing signs of weakness, such as server casing companies experiencing more declines than gains. By 11:10 a.m., shares of Chenming Mold Industry., Chenbro Micom, and IN WIN Development all saw decreases.
Analyst Chen noted a stock surge led by heavyweight stock leaders, warning about profit-taking pressures. The Taiwan market resembled a "temperamental god" around 11:15 a.m., dropping nearly 40 points with over 400-point swings. Analysts caution against chasing highs and lows and prioritize wise investments.