Reported 11 months ago
On June 8, 2024, at 4:10 pm, analyst Zhao Pengbo from Hundada Investment pointed out the strong performance of Taiwan's stock market last week, attributing it to factors like the rise of certain tech stocks and the impact of Nvidia and TSMC ADRs hitting new highs. The index reached a historical high of 21,970 points, with expectations to breach the 22,000 points mark. Stocks to watch this week include Genchun (4561), Tiantwo Technology (6834), Silite (4303), Heide Wei (3268), and Bao Rui (8093). Genchun achieved its second-highest monthly revenue in May, with its stock price crossing the monthly and quarterly lines, indicating potential future growth. Tiantwo Technology, a passive component chip resistor manufacturer, saw its stock price hit a yearly high as it sustained an upward trajectory along the monthly line. Various industries expressed optimism for Silite, a PU synthetic leather manufacturer, as its stock price rebounded significantly from the bottom. Heide Wei, specializing in consumer IC firmware design, experienced a recent surge in buying momentum, reaching new highs as the monthly and quarterly lines exhibited a golden cross, hinting at a positive future. Bao Rui, known for CPU radiator production, saw a renewed upward trend after a brief consolidation period, with possibilities to further expand its gains. As Taiwan stocks hit record highs driven by TSMC reaching 899 NTD, nearing the market consensus of 1,000 NTD, the week's stock selection favored strong sectors such as AI and semiconductors, alongside non-electrical sectors like heavy-duty energy storage, electrical wires and cables, and medical information. The US 'small non-farm' ADP report showed a new job addition of 152,000 in May, lower than market expectations, and a continuous 5% wage growth rate, a multi-year low. However, the newly released US May non-farm employment data showing an additional 272,000 jobs, exceeding the expected 182,000, might create some short-term noise in the rate cut path. Xu Xiulan emphasized the need for a clear energy policy to meet the industry's electricity needs, targeting a revenue challenge of 20 billion this year, with an estimated 3% decrease in TV panel shipments next year, as per a report in the Business Times.
Source: YAHOO