TSMC(US:TSM) 智通财经网·2026-01-06 09:31Core Insights - Asian stock markets are experiencing their best start to a year in history, with the MSCI Asia Pacific Index rising approximately 4% since the beginning of 2026, driven by investor interest in AI-related investment opportunities [1][4] - The Korean stock market, particularly the Kospi index, has surged by 8% at the start of 2026, breaking the 4500-point mark, largely due to the performance of major companies like SK Hynix and Samsung Electronics [3][5] - Analysts predict that the Korean stock market has further upside potential, with expectations of at least a 20% increase in the benchmark index over the next year, supported by government stimulus and a strong earnings growth trend in the storage chip sector [3][4] Group 1: Market Performance - The MSCI Asia Pacific Index is on track for its strongest year-to-date performance since 1988, with significant contributions from the Korean and Taiwanese markets [1][3] - The Taiwanese Taiex index has also risen by 5.6% since the beginning of 2026, with TSMC's stock price reaching a new historical high after a 6.9% increase [5][6] - The A-share market in China has shown strong performance, with the Shanghai Composite Index achieving a new high not seen since July 2015, reflecting a 2.8% increase in 2026 [6][7] Group 2: Sector Insights - The storage chip industry is entering a "super cycle" expected to last until at least 2027, with significant price increases anticipated for major players like SK Hynix and Samsung Electronics [4][6] - TSMC, as the largest contract chip manufacturer globally, is benefiting from the surge in demand for AI chips, which has led to strong earnings growth and stock price increases [6][7] - The optimism surrounding AI applications and the "domestic substitution" trend in China is driving the performance of AI-related companies in the A-share market [6][7] Group 3: Investment Sentiment - Investors are increasingly attracted to Asian stock markets as valuations of major US tech companies reach historical highs, with a shift in global capital flows towards Asian tech stocks [4][6] - The valuation of core technology companies in the AI supply chain in Asia remains relatively low compared to their global counterparts, indicating potential for growth [7]