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Taiwan TSMC headquarters (photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Taiwan's stock market has hit an all-time high. This is due to the surge in Taiwanese technology stocks, including TSMC, thanks to the global semiconductor craze. The market capitalization gap with the local stock market has narrowed to $ 4 billion (about 5 trillion won).
According to the Taiwan Exchange on the 21st, Taiwan's price index closed at 20,000 won, up 2.10% from the previous trading day. It succeeded in breaking the 20,000-point mark for the first time in history. The index rose 12.65% this year alone and 31.00% from a year ago.
TSMC, the No. 1 global foundry (semiconductor consignment production) company, is leading the rally in Taiwan's stock market. The semiconductor industry has emerged as a beneficiary of the global artificial intelligence (AI) craze, and TSMC's stock price is also gaining momentum.
On the 21st, TSMC's stock price rose 3.43% to TWD 784 (about KRW 32,645). It has jumped 47.09 percent this year alone.
In addition to the TSMC, the top tech stocks in the market continued to rise. Shares of Foxconn (iPhone manufacturer), Taiwan's second-largest market capitalization, rose 3.25%. Shares of MediaTech (semiconductor fabless company), the third-largest company in the market, and Quanta Computer (Macbook producer), the fourth-largest company, also rose 3.26% and 2.21%, respectively.
The Taiwanese stock market is rapidly narrowing the gap with the Korean stock market. As of this day, the market capitalization of Taiwan's listed companies is $ 2.175 trillion, trailing the market capitalization of KOSPI and KOSDAQ-listed companies ($ 2.215 trillion).
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
