TAIPEI (TVBS News) — Taiwan's stock market opened at 23,190 points on Friday (Jan. 17), climbing over 100 points before retreating. TSMC's (台積電) stock initially rose by NT$20 or 2% to NT$1,125, then fell to a low of NT$1,095.
At its Q4 2024 earnings call a day earlier, TSMC Chairman C.C. Wei (魏哲家) dismissed rumors of order cuts from NVIDIA (輝達), forecasting double-digit growth for the company this year. He raised this year's capital expenditure outlook, expressing optimism about increased AI demand. TSMC's ADR surged over 3.8%, boosting the Philadelphia Semiconductor Index by 0.18%.
Despite most major U.S. indices closing lower on Thursday, with the Dow Jones Industrial Average falling 68.42 points and the Nasdaq dropping 172.94 points, the Philadelphia Semiconductor Index rose by 9.29 points. Taiwan's futures index gained 248 points overnight, leading to a 184.78-point increase in the morning session, reaching 23,209.88 points, before stabilizing.
TSMC anticipates robust growth through 2025, with dollar revenue expected to rise 24% to 26% and capital expenditure reaching a record $38 billion to $42 billion. The company's ADRs increased by 3.86%, and its stock opened at NT$1,125, raising its market value to NT$29.17 trillion, contributing approximately 161 points to the market.
NVIDIA CEO Jensen Huang (黃仁勳) visited Siliconware Precision Industries' (矽品) new plant in Taichung on Thursday, highlighting their strong partnership. ASE's stock opened 1.5 points higher at NT$166.5, with the electronics index rising over 1%.