Foreign money returns to Taiwan stocks as Nvidia results lift the market
Taiwan's stock market jumped past 46,000 for the first time in over a week after Nvidia's strong earnings, good news for investors who have watched foreign funds flee all year.
- Foreign investors bought Taiwanese shares for a third straight day, adding up to a big August buying spree after dumping stocks heavily earlier this year.
- Nvidia's better-than-expected results and outlook sent its shares up sharply, pulling up TSMC, MediaTek and the rest of Taiwan's tech sector.
- United Microelectronics was the most heavily bought stock and hit its daily price limit, while active Taiwan ETFs took two of the top three buying spots.
- Capacitor makers surged after Samsung Electro-Mechanics raised prices for the fourth quarter, and lens maker Largan hit a record high after almost doubling in a month.
- Taiwan's listed companies earned a record amount in the first half, with full-year profits possibly reaching a new peak — which also means a much bigger tax bill.
Outlook: Next week's SEMICON Taiwan show could add more fuel, though buyers are picking up dips rather than chasing prices higher.