Semiconductor stocks have risen against the market. As of press time, Hua Hong Semiconductor (01347) rose 3.79% to HK$23.25; Shanghai Fudan (01385) rose 1.96% to HK$12.48; Semiconductor Manufacturing International Corporation (00981) rose 1.62% to HK$17.58.
According to the Wise Finance app, semiconductor stocks have risen against the market. As of press time, Hua Hong Semiconductor (01347) rose 3.79% to HK$23.25; Shanghai Fudan (01385) rose 1.96% to HK$12.48; Semiconductor Manufacturing International Corporation (00981) rose 1.62% to HK$17.58.
In terms of news, Taiwan Semiconductor's Q2 2024 financial report showed that the company achieved sales of NT$673.51 billion during the quarter, a year-on-year increase of 40% and a quarter-on-quarter increase of 13.7%, with the market estimating NT$658.14 billion; net income reached NT$247.8 billion, a year-on-year increase of nearly 36% and a slight increase of nearly 10% from the previous quarter, with the market estimating NT$235 billion. In addition, its Q2 gross margin and operating margin both exceeded expectations.
Open-source Securities pointed out that downstream demand in the semiconductor industry is gradually recovering, coupled with AI innovation stimulating terminal upgrades, the revenue vitality of multiple sectors in Taiwan's stock market has begun to rise significantly, and semiconductor sales in 2024 are expected to increase greatly year-on-year. De Bang Securities also stated that the overall valuation of the semiconductor equipment sector is currently low, and the basic situation of orders and other fundamentals is good. The relevant policies restricting semiconductor equipment will boost the fundamentals and sentiment of the sector.