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Taiwan Equities Await Nvidia Earnings Amid Growing Outflows

EQUITIES
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Taiwan's equities have faced pressure recently from rising outflows amid geopolitical tensions, potential US-China tariffs, and reports of restricted TSMC chip shipments to China. The market is eagerly awaiting and hoping for strong Nvidia results due out later this week. The Taiex has seen a 27% ytd rally, although the majority of that has come on the back of TSMC 82% rally. 

  • Gains in global semiconductor stocks are becoming more and more concentrated. Taking a look at Philadelphia SE Semiconductor Index members, only 5 companies have returns of over 50% for the year with TSMC being one of them, Nvidia is the top performing up almost 200%.
  • The TAIEX hit all-time-highs in July, before a sharp 20% fall following rising middle east tensions, the Index quickly reversed those gains, however still trades 6.5% off the July highs.
  • The AI boom has supported sentiment, although memories of the 2018 trade war which saw the Taiex drop almost 15% are seen to be weighing on investor confidence.
  • Foreign investors have sold $3.7b of local stocks so far this month, following a $1.1b inflow in October.
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Taiwan's equities have faced pressure recently from rising outflows amid geopolitical tensions, potential US-China tariffs, and reports of restricted TSMC chip shipments to China. The market is eagerly awaiting and hoping for strong Nvidia results due out later this week. The Taiex has seen a 27% ytd rally, although the majority of that has come on the back of TSMC 82% rally. 

  • Gains in global semiconductor stocks are becoming more and more concentrated. Taking a look at Philadelphia SE Semiconductor Index members, only 5 companies have returns of over 50% for the year with TSMC being one of them, Nvidia is the top performing up almost 200%.
  • The TAIEX hit all-time-highs in July, before a sharp 20% fall following rising middle east tensions, the Index quickly reversed those gains, however still trades 6.5% off the July highs.
  • The AI boom has supported sentiment, although memories of the 2018 trade war which saw the Taiex drop almost 15% are seen to be weighing on investor confidence.
  • Foreign investors have sold $3.7b of local stocks so far this month, following a $1.1b inflow in October.