TSMC(US:TSM) Zhi Tong Cai Jing·2026-01-06 09:57Group 1: Market Performance - Asian stock markets have achieved the best start to a year in history, with the MSCI Asia Pacific Index rising approximately 4% since the beginning of 2026, marking the strongest performance since records began in 1988 [1] - The Korean stock market, particularly the Kospi index, has surged by 8% at the start of 2026, breaking the 4500-point mark, driven by major stocks like SK Hynix and Samsung Electronics [2][3] - The Shanghai Composite Index has recorded a 2.8% increase since the beginning of 2026, achieving a 13-day winning streak, the longest in history [6] Group 2: Key Drivers - The strong performance of Asian markets is attributed to attractive valuations and the central role of the region in the global AI computing industry [2] - The "super cycle" in the storage chip industry is expected to continue until at least 2027, with significant growth in earnings driven by major players like Samsung and SK Hynix [3] - The demand for AI-related infrastructure, particularly from companies like TSMC, is fueling growth in the semiconductor sector, contributing to the overall market strength [5] Group 3: Analyst Insights - Analysts from major firms like Citigroup and JPMorgan predict that the Korean stock index could rise by at least 20% in the coming year, supported by government stimulus and strong earnings growth [3] - The valuation of core technology companies in the AI computing supply chain in Asia is still considered very attractive compared to global peers, indicating further upside potential [6]