The New Taiwan Dollar opened at 32.1 against the US Dollar today (2nd) and has strongly appreciated, reaching a peak of 30.815 during the session, surpassing the 31 mark. It surged by 8.77 cents in one day, closing at 31.394, an increase of 6.23 cents, with a transaction amount of 1.492 billion USD. Semiconductor analyst陸行之 noted that Taiwan's economy is export-driven, and no company can escape this trend. Companies with low profit margins holding large amounts of USD cash (even worse than TSMC) may face a sudden transition from profit to loss.

In a Facebook post, 陸行之 mentioned that starting next week, analysts may need to calculate the impact of USD/TWD appreciation to the 30-31 range on TSMC and Taiwan's semiconductor and technology sectors’ revenue and profitability, as well as the implications for their substantial USD assets. He recalled that during his previous tenure as an analyst, he often had to compute the impact of a 1% appreciation of TWD on revenue, capital expenditure, profit margins, USD assets, and EPS. The external trade-dominated Taiwan industry cannot avoid it, and when issues arise, investors may heavily criticize such companies for holding these large amounts of USD assets and cash.

陸行之 further indicated that if President Trump continues to disrupt the dollar's value, TSMC may be forced to increase cash dividends to quickly convert the 'hot potato' USD into TWD for distribution to shareholders.陸行之 noted that Trump's tariff increases would harm American consumers, inflation, and bond yields. Now, attempting to manipulate exchange rates might be a gamble, but if the dollar depreciates in purchasing power, American consumers will also become displeased.