Reported 8 months ago
Yongfeng Futures analyst Gao Binghong provided, and Huang Yanhong organized on June 17, 2024, after the Dragon Boat Festival, the Taiwan stock market saw strong buying momentum with daily record highs. In the first week after the festival, the market rose by 646 points, with TSMC (2330) contributing nearly 370 points to the market. With the market continuously hitting new highs, investors considering overvaluation may opt to hedge using index futures. Observing ETFs, the Taiwan stock ETF size reached 2.25 trillion yuan last week, indicating that investors are diversifying their investments amidst the bullish market by using ETFs. As the Fed hinted at a rate cut this year and the possibility of further cuts, tech stocks continued to heat up, with Apple standing out post-developer conference. Investors can consider related topics to Apple to find undervalued targets for rebound opportunities, such as memory manufacturer Macronix and hardware board company Wah Lee, both having lower stock prices recently and potential for rebound. Taiwan's market outperformed Japan and South Korea on the 17th, with the Bank of Japan hinting at maintaining rates but not ruling out a hike in July, and revealing plans to announce bond purchase reductions next month. The market interprets that the Bank of Japan's actions aim to stabilize the yen and awaits the US rate cut. Giga-Byte to showcase 5G network and AI strength, World Bank reduces growth expectations for China in the next year, optimistic about economic recovery unaffected by the pandemic, and the Australian Central Bank's earliest possible QE exit by February next year.
Source: YAHOO