Taiwan Stock Market Surges 356 Points, Led by Tech Stocks

Taiwan's stock market experienced a significant surge, closing up 356.23 points at 46,331.45 on Friday. The trading volume expanded to 1.02 trillion TWD, indicating robust market activity. This upward trend was largely propelled by the strong performance of technology stocks.

Key players like UMC, TSMC, MediaTek, and Nan Ya Technology saw opening gains, contributing to an initial rise of 95.61 points. The market continued its upward trajectory throughout the day, with 36 listed companies, including UMC, hitting their daily trading limits. This broad-based strength in the tech sector, encompassing semiconductors, optoelectronics, electronic components, and AI-related stocks, alongside gains in industrial and financial sectors, fueled the rally.

The positive sentiment in the Taiwanese market was partly influenced by Nvidia's impressive earnings report, which saw its stock price jump nearly 9% on Thursday. This boosted the US market, with the TSMC ADR also rising over 2%, setting a favorable tone for Friday's trading session in Taiwan.

Despite some profit-taking in sectors like ABF substrates and AI stocks towards the end of the session, the overall market maintained its gains. The top 10 traded stocks showed mixed performance, with Yageo leading in turnover, followed by Nan Ya and Nanya Technology. UMC closed at its upper limit of 130 TWD, while TSMC rose to 2,420 TWD.