Taiwan stocks rebound after plunge, TSMC ends up 8%
Updates closing prices throughout
TAIPEI, Aug 6 (Reuters) -Taiwan stocks closed higher on Tuesday from a record plunge on Monday, with contract chipmaker TSMC up 8%, but sentiment remains cautious amid lingering investor concerns about the outlook for tech companies and the U.S. economy.
The main index .TWII ended up 3.4% after climbing to as high as 20,640.44 points during the session. It plummeted a record 8.4% on Monday along with global markets amid fears the United States could be heading for recession and as investors sought refuge from riskier assets.
Shares in the dominant technology stock TSMC 2330.TW, the world's largest contract chipmaker, finished up 8%. TSMC is the world's largest contract chipmaker and a supplier to Nvidia NVDA.O.
"Investors are mostly concerned about the U.S. economy and the rapid rise of the yen. So yesterday's plunge was inevitable," said Jeff Chang, chairman of Cathay Securities Investment Trust, which oversees more than T$1 trillion ($30.3 billion) in client assets.
"We think the Taiwan main index has dropped to a level with strong technical support. But we can expect to see consolidation for a while," he said.
"Looking at fundamentals of the AI industry, nothing has changed compared to a month ago. It's a good buying opportunity for AI shares, both now and when they dip in the future," Chang said.
Other major-weighted tech stocks also rebounded. Mediatek 2454.TW was up 8.5% while Quanta 2382.TW rose 3.1%.
Premier Cho Jung-tai told reporters on Tuesday the fundamentals of Taiwan's economy were "very solid", adding authorities will closely monitor the market situation.
Taiwan Stock Exchange President Lih-Chung Chien has said the bourse would work with regulators to maintain stability when needed.
Reporting by Faith Hung and Yimou Lee; Editing by Jacqueline Wong, James Pomfret, Kim Coghill and Sonali Paul
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
