Reported 11 months ago
The '2024 Investment New Trends Series Seminar' in Taichung, co-organized under the guidance of the Financial Supervisory Commission and Securities and Futures Bureau on June 22, highlighted the recent surge of nearly 30% in the Taiwan stock market due to the AI frenzy. Senior stock analyst Du Jinlong stated that the current market is in the eighth major cycle, currently in the 'initial upswing phase' and is expected to enter a main upswing period after a short-term rest. Du attributes this growth to AI technology, predicting sustained market momentum with companies like TSMC, MediaTek, Foxconn, and Quanta experiencing significant increases. The article discusses the market's performance in relation to previous cycles and technical analysis, foreseeing a correction in the short term but anticipating a true 'primary upswing phase' for the Taiwan stock market. Du also suggests that the market will focus more on the Fed's interest rate cuts after the U.S. presidential election in November, which will influence market dynamics. The article concludes by mentioning the establishment of a 2.5 billion USD syndicated loan by Mega International Commercial Bank and other industry news.
Source: YAHOO