With the US-China trade negotiations turning positive, NVIDIA’s annual GTC conference came on stage. Huang Jen-Hsun thanked “these” companies by name. TSMC once hit a new sky-high price of 1,515 yuan, and the Taiwan stock market also challenged 28,400 points.
Taiwan stocks hit new highs again, challenging 28,400 points! Taiwan stocks have been booming recently. There have been positive news about the US-China trade negotiations in recent days, and the Federal Reserve is expected to cut interest rates again. All US stocks rose on Tuesday, with the Dow Jones, Nasdaq, and S&P 500 indexes reaching new highs.
Taiwan stocks surged 345 points on October 29, closing at 28,294 points, setting another record high. The intraday high reached 28,395 points, and it was only one step away from challenging 28,400 points. The transaction value was NT$578.009 billion, with the three major legal entities buying over NT$11.101 billion in total, of which self-operators bought over NT$8.613 billion, investment trusts sold over NT$4.7 billion, and foreign investors bought over NT$7.188 billion.
NVIDIA AGTC conference boosts confidence, TSMC leads AI concept stocks to riseNVIDIA’s annual GTC conference came on stage. CEO Huang Jen-Hsun thanked Taiwan Semiconductor Manufacturing Co., Ltd., Hon Hai, ASE Investment Holdings and other Taiwanese partners by name. He encouraged TSMC to offer the product at 1,495 yuan, which reached a record price of 1,515 yuan. It ended up rising by 30 yuan, or 2.03%, to close at 1,505 yuan. TSMC alone hit the market index at 230 points, and TSMC concept stocks also rose simultaneously; Hon Hai's intraday high reached 263 yuan, and ended up rising by 10 yuan, or 4%, to close at 260 yuan, driving Hongjiajun to strengthen; ASE Holdings' stock price rose by more than 8%, and IC packaging and testing concept stocks also showed positive results.
Nomura Investment Bank stated that the United States and China completed the fifth round of trade negotiations in Kuala Lumpur. The two parties have initially reached a number of consensuses, including the United States giving up 100% punitive tariffs on Chinese goods, and China delaying rare earth export controls and resuming large-scale purchases of American agricultural products. The agreement is expected to be formally signed at the APEC summit on October 30. This move symbolizes that the U.S.-China trade war has significantly cooled down, market concerns about the global economic outlook have temporarily eased, and risk appetite has rebounded significantly.
At the same time, the annual growth rate of U.S. CPI fell to 3% in September, lower than market expectations of 3.1%, and the Federal Reserve's interest rate cut expectations at the October regular meeting are more certain. Under the double bullish stimulus, the four major U.S. stock indexes rose across the board, with technology stocks leading the gains and the Philadelphia Semiconductor Index soaring strongly. On the other hand, NVIDIA announced at the GTC technology conference in the United States that it would build 7 AI supercomputers for the US government and strongly refuted the "AI bubble theory." This news encouraged global technology stocks, especially NVIDIA's AI supply chain weight stocks in Taiwan, to strengthen. The weighted index stood at 28,000 points on October 29, and market funds were clearly focused on AI and semiconductor supply chains.
▲ NVIDIA’s annual GTC conference came on stage. CEO Huang Jen-Hsun thanked Taiwan Semiconductor Manufacturing Co., Ltd., Hon Hai, ASE Investment Holdings and other Taiwanese partners by name. (Source: NVIDIA)
NVIDIA AI strategy advances, Taiwanese AI supply chain becomes the biggest winnerNomura Investment Bank pointed out that although this agreement is a short-term "buffer window", it will help reduce geopolitical and trade uncertainties and support global stock market risk appetite. The subsequent focus will turn to the U.S. Federal Reserve's interest rate decisions and the details of the Trump-Xi meeting. NVIDIA has cooperated with the U.S. Department of Energy to build seven AI supercomputers. This move symbolizes the formal inclusion of AI into the core of U.S. national policy. Market confidence has greatly increased. AI-related concept stocks have performed strongly, attracting domestic and foreign funds to enter the market.
On the other hand, NVIDIA has launched the "AI factory" concept, which integrates chips, servers, networks, etc., improving performance by 10 times and reducing costs by 90%. Taiwanese AI value stocks are the main supply chain and have benefited significantly. The AI industry continues to drive up the stock prices of related supply chains. It is recommended that the operation focus on value stocks and AI concept stocks with performance themes. Beneficiary groups include semiconductors, carrier boards, cooling, server assembly, power management and memory, etc.
Zhang Jiwen, deputy general manager of the Investment Strategy Department of Nomura Investment Trust, pointed out that the U.S. government shutdown has led to delays in the release of inflation and employment data, and policy formulation faces higher uncertainty. However, judging from the performance of CPI and PCE, the trend of inflation control has been clear, and the slowdown of the labor market is the key to the policy direction. In the short term, the probability of a "blind interest rate cut" by the Federal Reserve at the end of the year has increased, and the financial environment is expected to become looser.
Taiwan stocks are bullish in 2026, AI and domestic demand will become twin enginesIn addition, this week marks the start of heavyweight corporate earnings week. The four major North American cloud service providers (CSPs) and Apple will successively announce last quarter financial reports and outlook for this quarter. CSP capital expenditure trends have become the focus of the market. Whether the demand for AI servers continues to expand will affect the future performance of the supply chain. Zhang Jiwen further analyzed that Taiwan's domestic demand is stable, AI export momentum continues to be strong, and corporate profits are increasing simultaneously. It is expected that "loose funding" and "profit growth" will become the main theme of Taiwan stock bulls in 2026.
Lin Haoxiang, manager of Nomura Taiwan Enhanced 50 Active ETF Fund, said that the global economy is moving from the interest rate plateau period to the capital easing stage. The United States is showing a complex situation of slowing inflation, slowing growth, and shrinking manufacturing, and financial conditions are expected to turn neutral to loose. Taiwan's economic signal remains green, reflecting solid domestic demand. The AI industry is booming, and demand for data centers has pushed up cooling, PCB, power management and other categories. With global liquidity easing and AI investment accelerating, Taiwan stocks are expected to maintain a bullish pattern, and pulling back can be seen as a mid- to long-term layout opportunity..
Further reading: NVIDIA became the first company in history to have a market value exceeding US$5 trillion, and Jen-Hsun Huang is worth as much as US$5.4 trillion NVIDIA's market value breaks through $5 trillion, hitting record high! 14 “Hanhui ETFs” on Taiwan stocks took off AI craze drives NVIDIA stock price soaring, market value approaches $5 trillion NVIDIA GTC conference, Huang Renxun did not clearly respond to where the Taiwan headquarters will be located After NVIDIA changes its role, the GTC conference moves to Washington, with 20 supply chain manufacturers from Taiwan attending the highly anticipated conference.