Reported 8 months ago
Taiwan's stock market, led by heavyweight tech companies like TSMC and MediaTek, continued to soar on June 19, 2024, setting new historical highs with 93 stocks hitting new highs for the year and 26 stocks reaching record prices. The rally was driven by electronics, construction, and financial sectors, with companies in AI, semiconductors, and biotechnology showing remarkable growth. Financial stocks also surged, benefiting from rising loan interest rates and strong global market conditions. Expectations are positive for continued growth in brokerages, proprietary trading, and underwriting businesses, with insurance companies anticipated to achieve record profits in the third quarter due to cash dividends. The overall market sentiment remains bullish with diverse sectors contributing to the market's upward momentum.
Source: YAHOO