Reported 6 months ago
At the Taipei International Computer Show closing on June 7, 2024, tech stocks pulled back, with the Taiwan Stock Exchange closing down 44 points at 21,858. Despite this, the market saw a weekly increase of 684 points, the largest in nearly three months, driven by the hype around AI at the event. Instead of AI, non-tech sectors like electronics, construction, green energy, and biotech surged. With AI stocks experiencing profit-taking, other sectors like electrical appliances, machinery, and cables performed well, reflecting a shift in market sentiment. Looking ahead, analysts predict the index will enter a period of consolidation, highlighting industries like construction and biotech, which are gaining momentum with upcoming events like the BIO 2024, with 80 Taiwanese companies showcasing their strengths.
Source: YAHOO