離開
進入《TAIPEI TIMES》TAIEX remains attractive due to AI effects: analysts
Stock prices are displayed on an electronic board at the Taiwan Stock Exchange in Taipei on March 5. Photo: CNA
By Crystal Hsu / Staff reporter
The TAIEX remains attractive this quarter and beyond after rallying above the 20,000 points last quarter, as major local firms would benefit further from artificial intelligence （AI） investment by global technology titans, analysts said.
US technology giants Microsoft Corp, Amazon.com Inc, Meta Platforms Inc and Alphabet Inc have increased AI spending, which might total US$175.9 billion this year, a 23 percent gain from a year earlier, Nomura Asset Management Taiwan Ltd （野村投信） said in a note.
The money would ramp up business at all firms on the global AI supply chain, of which Taiwan is an important part and the nation’s significance would not be ignored, Nomura Asset Management Taiwan said.
That explained why foreign portfolio managers have increased holdings in local shares by a net NT$160 billion （US$4.99 billion） so far this year, Nomura said.
The fund flows would continue, even though local shares have grown increasingly expensive with the price-to-earnings ratio rising above the five-year average of 18, it said, attributing its confidence to the expectation that corporate earnings would rise 30 percent this year.
In particular, Taiwanese semiconductor firms command global leadership positions in technology processes, enabling them to take part in the supply of cloud computing and AI services, two megatrends of the foreseeable future, Nomura said.
Taiwan Semiconductor Manufacturing Co （TSMC, 台積電）, the world’s largest advanced chipmaker, on April 18 is to report its first-quarter financial situation and give guidance on its business prospects.
TSMC yesterday said it would stick to its financial forecast for last quarter and for the whole year of this year, as most of its manufacturing equipment has resumed operations.
The world’s biggest contract chipmaker said that revenue this year would grow by at a low-to-mid-20s percentage from last year.
Earlier, it said it is looking for a 25 percent pickup in revenue this year, partly on the back of strong AI demand.
Nomura said that demand for AI chips would exceed supply this year and the imbalance would continue into next year.
The TAIEX would receive additional support later this month and in May from the advent of new funds targeting local shares highlighting growth momentum and high dividends, analysts said.
Mega Investment Trust Corp （兆豐投信）, Fuh Hwa Securities Investment Trust Co （復華投信） and Nomura Asset Management Taiwan are to raise money later this month in an apparent bid to copy the successful models of exchange-traded funds.
The cash would boost prices of component shares, which is what happened last month, with more than NT$200 billion poured into shares that promised high dividends.
KGI Securities Investment Trust Co （凱基投信）, Taishin Investment Trust Co （台新投信） and Shin Kong Investment Trust Co （新光投信） are waiting for regulatory approval to launch similar products, which are a fast-growing source of fee income.
新聞來源：TAIPEI TIMES
