Hoax reports on April Fools’ Day had a major impact on TSMC American depositary receipts on Monday and Taiwan shares on Tuesday. A false report had emerged that Warren Buffet of Berkshire Hathaway was buying back his TSMC stake. The news boosted TSMC American depositary receipts by 4%, which in turn lifted TSMC shares by NT$20 on Tuesday. Taiwan shares overall picked up 1.21% to close at a record-breaking 20,466 points. The biggest winners were tech shares and AI concept stocks.

Wall Street saw a mixed trading day on April Fools’ Day on Monday. The Dow Jones Industrial Average fell by 240 points, in contrast with gains in the PHLX Semiconductor Sector Index. The rise comes after an online hoax emerged claiming that Warren Buffett of Berkshire Hathaway was buying back his TSMC stake. The news boosted TSMC American depositary receipts, which rose by 4%. That in turn boosted TSMC shares on Tuesday in Taiwan, picking up NT$20 to close at NT$790.

Weng Wei-jie
When bullish or bearish news break out, they trigger an immediate reaction in financial markets, which causes fluctuations. Currently, global markets are at historic highs, and so any impact from news will be even bigger. Determining the veracity of news stories has become something investors absolutely must be able to do.

Taiwan shares opened high and closed even higher at a new record high of 20,466 points, an increase of 1.21%. Tuesday was gains across the board for electronics and AI shares. MediaTek picked up 0.43%, and Quanta and Hon Hai skyrocketed by more than 5% each.

Weng Wei-jie
The rise of TSMC’s American depositary receipts has had an effect. Shares of companies in TSMC’s supply chain and shares related to future AI stocks were on a clear rebound on Tuesday. And the scope of the rebound wasn’t cut down significantly after it was found the reports were false.

With the Tomb Sweeping Festival break just around the corner, and many variables at play, the analyst urges investors to exercise caution.

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