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Jiangxiang Stock Price Holds Support at 800, Limited Gains Suggest Entry Point

Jiangxiang Stock Price Holds Support at 800, Limited Gains Suggest Entry Point

Due to Trump's softened stance towards China, the Dow Jones Industrial Average soared by a thousand points, propelling the Taiwan stock market up nearly 800 points today. Although this hasn't unlocked the trapped investors from the April 2 liberation day, it has offered a glimmer of hope as the recent market turbulence stems not from global economic downturns or pandemics, but rather from Trump's erratic statements. Realistically, Trump cannot fulfill his extravagant claims; globalization is unavoidable, and high tariffs will only plunge domestic economies into recession, as history has shown.

Among numerous stocks, game stock king Jiangxiang (3293) saw its performance disappointing with its price momentarily falling below 800, but buying pressure quickly supported it, ultimately closing at 805, establishing 800 as a critical support level. As Trump’s policies fluctuate, the gaming sector remains less affected by trade wars.

As of April 22, foreign investors have bought a net total of 2005 shares of Jiangxiang over the past five days, only recording selling on April 18, while showing a trend of buying on dips during the remaining days, indicating confidence in Jiangxiang's sustained profitability this year. Jiangxiang revealed in its recent earnings call that it plans to obtain a UK gambling license in the second half of the year and is optimistic about its Southeast Asian and American markets. Although Taiwan contributes 27% to its revenue, substantial income also comes from overseas, with strategic positioning in North America, Central and South America, Japan, Europe, and Southeast Asia. Southeast Asia alone contributes 44%, followed by China (12%), the US (11%), Japan (2%), and others (around 4%). While the stock price remains stable, it indicates that major players are quietly accumulating shares, preparing for a spike once positive news emerges. Investors should pay close attention.