- Bloomberg
台積電美股受到追捧 熱門套利交易反噬
【彭博】-- 買入台積電台北股票、同時做空其美國存託憑證(ADR)，這種長期以來的熱門套利策略開始反噬。彭博匯編的數據顯示，在美國人工智能(AI)熱潮推動下，台積電美股相對台股的季度平均溢價創下2009年以來的最高水平。截至上周五，兩者價差約為21%，而五年均值不到8%。在2月春節台灣休市期間，其曾達到30%的高點。「很多人都採取了套利策略，期望台積電美股相對台股的溢價回落到長期公允價值水平，」百達資產管理亞洲特殊機會主管Jon Withaar稱。但是這一溢價仍可能走升，「屆時會帶來很多痛苦」。頂尖的技術和合理的估值，使台積電成為全球AI投資者的最愛之一。今年截至上周五，其ADR已飆升66%，同期台股僅上漲55%。然而兩者估值都遠低於2021年觸及的高點。ADR表現更佳，是因為外國投資者更容易投資。而且，它還是費城證交所半導體等指數、VanEck半導體ETF和iShares安碩半導體ETF等交易所交易產品的成分，這意味著與它們掛鉤的基金必須買入台積電ADR。原文標題Popular Arbitrage Trade Backfires as TSMC Frenzy Grows in US
- Bloomberg
Popular Arbitrage Trade Backfires as TSMC Frenzy Grows in US
(Bloomberg) -- The long-favored arbitrage strategy of buying Taiwan Semiconductor Manufacturing Co.’s Taipei shares while shorting its US listing is starting to become painful. Most Read from BloombergFlesh-Eating Bacteria That Can Kill in Two Days Spreads in JapanUkraine Bid for Global South Support Falters at Swiss SummitHow the US Mopped Up a Third of Global Capital Flows Since CovidDanes Asked to Keep Supplies, Iodine Pills to Prepare for CrisesSouthwest Plane Plunged Within 400 Feet of Ocea
- Motley Fool
6 Artficial Intelligence (AI) Stocks Are Worth Over $1 Trillion. Here Are the 2 Most Likely to Join the Club Next.
AI tailwinds could push these two semiconductor stocks into the elite $1 trillion club.
