TAIPEI (TVBS News) — The Taiwan Stock Exchange (台灣證券交易所) witnessed a notable surge on Wednesday (May 22), with the benchmark index climbing 144 points to a morning high of 21,381, successfully reclaiming its 5-day moving average.
Leading the charge were heavyweight electronics stocks such as TSMC (台積電), Foxconn (鴻海), MediaTek (聯發科), and United Microelectronics Corporation (聯電), with the latter jumping nearly 1.5%.
AI concept stocks like Quanta Computer (廣達) and Wistron (緯創) held steady, while ASUS (華碩) saw a significant increase of over 2%.
Securities analysts have observed that the buying power in the Taiwan stock market remains strong, keeping the index at high levels. However, they noted a gradual decrease in the willingness to chase prices.
The recent shrinkage in market volume, attributed to the tax season's off-peak effect, has led to a high-level oscillation pattern in the Taiwan stock market, indicating a lack of clear mainstream direction.
In related news, NVIDIA (輝達) is set to announce its earnings report early Thursday Taiwan time. The anticipation has propelled its stock to a record closing high on the eve of the announcement. This comes as the S&P 500 and the Nasdaq indices in the United States reached all-time highs, highlighting a global bullish sentiment in the tech sector.