TAIPEI (TVBS News) — The Taiwan Stock Exchange surged 598.12 points to close at 31,408.70 on Friday (Jan. 16), a 1.94% gain. Trading volume hit NT$823.361 billion (around US$26.56 billion), the second-highest in the exchange's history.
The market recorded a weekly gain of 1,119.74 points, marking its fourth consecutive week of positive performance as investors showed strong optimism. Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) drove the upward momentum, hitting an intraday high of NT$1,750 (around US$56.45) and closing at NT$1,740 (around US$56.13). The chipmaker gained NT$50 (around US$1.61), a 2.96% increase.
Anticipation of an IPO by Elon Musk's SpaceX fueled interest in low-orbit satellite stocks, with Prime Electronics and Satellitics (百一) closing at the daily limit of NT$14.1 (around US$0.45). Demand for critical materials in AI server production caused a fiberglass cloth shortage, driving stocks like Taiwan Glass (台玻), Baotek (建榮), and Glotech (德宏) to their daily limits.
AblePrint Technology (印能科技) fell below NT$1,000 (around US$32.26), closing at NT$990 (around US$31.94). The decline left only 29 stocks in the "Thousand Dollar Club," a term for shares trading above NT$1,000. ASPEED (信驊), known as the "stock king," dropped 0.63% to close at NT$8,700 (around US$280.65).
Foxconn (鴻海) rose 0.43% to NT$234.5 (around US$7.56), and MediaTek (聯發科) increased 1.01% to NT$1,505 (around US$48.55), showcasing steady tech stock performance. The market continues to show resilience as investors anticipate potential developments in the technology sector and broader economic landscape. ◼ (At time of reporting, US$1 equals approximately NT$31)
