[아시아증시] Taiwan’s stock market rises due to strong TSMC performance… Nikkei 0.18%↑

Nikkei rose the previous day thanks to the US stock market
China’s third quarter GDP slightly exceeds expectations

Nikkei 225 average stock price trend. The closing price on the 18th was 38,981.75 yen. Source: MarketWatch”/>

▲Japanese stock market Nikkei 225 average stock price trend. The closing price on the 18th was 38,981.75 yen. Source: MarketWatch

On the 18th, Asian stock markets rose all at once. The rise in the U.S. stock market and TSMC’s strong performance the previous day appear to have acted as a positive factor for the overall Asian stock market.

According to Market Watch, the Japanese stock market Nikkei 225 average stock price (Nikkei index) closed at 38,981.75, up 70.56 yen (0.18%) from the previous trading day, and the Topix index closed at 2,688.98, up 1.15 points (0.04%).

The Chinese stock market Shanghai Composite Index closed at 3278.28, up 108.89 points (3.44%), and the Taiwanese stock market index closed at 23,487.27, up 433.43 points (1.88%).

As of 4:10 p.m., Hong Kong’s Hang Seng Index rose 644.19 points (3.15%) to 20,720.82, India’s Sensex Index rose 73.49 points (0.09%) to 81,076.33, and Singapore’s ST Index rose 14.45 points (0.41%). It is trading at 3640.16.

According to the Nippon Keizai Shimbun (Nikkei), the Japanese stock market rose thanks to the rise in the US stock market the previous day. The Nikkei index showed a strong trend, exceeding the 200 point increase at one point during the day. However, Nikkei explained that as the value of the yen fell to 150.3 yen per dollar in the New York foreign exchange market, the range of gains narrowed due to selling.

The Chinese stock market had a positive effect on the stock market as the growth rate of gross domestic product (GDP) in the third quarter slightly exceeded market expectations. According to Reuters, China’s National Bureau of Statistics announced that GDP growth in the third quarter was 4.6% compared to the same period last year. This is slightly higher than the expert forecast (4.5%) compiled by Bloomberg News.

However, it is pointed out that this growth rate is the slowest since March 2023. Although major economic indicators announced along with the GDP growth rate on this day also showed improvement, there are still concerns about economic recovery.

China is having difficulty recovering its economy this year due to a combination of consumption and real estate recessions. In order to respond to the recent economic downturn, a series of economic stimulus measures have been introduced, including the announcement of a reserve requirement ratio cut, but some point out that their effectiveness in boosting domestic demand is minimal.

Taiwan’s stock market soared more than 2% thanks to the strong third quarter performance of TSMC, the world’s largest semiconductor manufacturer. The day before, TSMC announced that its third quarter net profit was NT$325.3 billion (approximately KRW 13.85 trillion), a 54% increase over the same period last year. This is significantly higher than the NT$300.2 billion expected by experts compiled by market research firm LSEG. During the same period, sales also increased 36% from last year to $23.5 billion.