Stocks Rise on First Working Day of Rabbit Year 兔年開紅盤 台股盤中一度大漲逾5百點

A rally in the U.S. during the lunar new year holiday gave a surge of vitality to Taiwan shares on the first trading day of the year of the rabbit.

The Taiwan Stock Exchange and relevant units held a Lunar New Year gathering on Jan. 30 to welcome the Year of the Rabbit as the stock market reopened again. The outside world is concerned about the future trend of Taiwan stocks. Can it get rid of the weak trend in 2022?

Sherman Lin, Chairperson, Taiwan Stock Exchange: “Rate hikes are likely to slow down. Therefore, we maintain a relatively optimistic view of the overall international situation. This year seems to look better than last year.”

Due to the surge of U.S. technology stocks during the Lunar New Year break in Taiwan stocks, the TAIEX index opened up at 15,291 points, with the intraday high reaching 15,465 points on the 30th. At one point, it rose 532 points, setting a record for the fifth-largest one-day gain in history. The performance of electronic stocks was also very eye-catching. TSMC jumped NT$39 and stood at NT$542 at the opening, a strong increase of more than 7 percent.

Liao En-ping, Assistant V.P., Investment Advisory Dept., President Futures: “The market has optimistic expectations of the Fed's pace of interest rate hikes. Suppose that such expectations really becomes true, there will be a relatively large incentive effect for the entire electronics sector and all the major indices.”

Analysts believe that if trading volume can maintain above NT$250 billion, then Taiwanese stocks will continue to challenge a new high. In addition, factors such as the decline in U.S. inflation will also help the stock market get rid of last year's poor performance. 








專題|土耳其百年震殤 「鬆餅式坍塌」為何釀禍?