Foreign funds posted a two-month selling streak in Taiwanese stocks in May, amid renewed optimism around artificial intelligence.
Foreign investors bought $2.7 billion worth of Taiwanese stocks, according to data compiled by Bloomberg. That’s a turnaround since they sold off shares in March and April, when Taiwan Semiconductor Manufacturing Co. warned of continued weakness in consumer markets and rotated funds to compete with South Korea.
Sentiment in chip stocks has recovered globally following a new bullish forecast from AI chipmaker Nvidia. Taiwan’s dominant position in the AI value chain will get another boost this week as tech giants gather on the island for their annual electronics showcase event.
