Taiwan Stocks Break 42,000 Level on AI Rally

The TAIEX, Taiwan’s benchmark stock index, surged 880 points, or 2.1%, to 42,019 in Thursday morning trade, gaining for a fourth straight session as optimism over AI infrastructure demand continued to lift sentiment. The broader index hit a record high for the fourth consecutive session and surpassed the 42,000 mark for the first time, after closing above the 41,000-point mark for the first time at 41,139 on Wednesday. The index tracked a rally on Wall Street overnight amid hopes of US-Iran peace talks, along with solid earnings in AI stocks. Electronic technology continued to be the main driver of the index, which rose 2.6%, with notable gains from Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of total market value, and surged 3.1%. Other top movers included Delta Electronics (6.3%), Unimicron Technology Corp. (4.8%), and ASE Technology Holding (4.4%).

The TAIEX, Taiwan’s benchmark stock index, rose 170 points, or 0.4%, to 40,939 on Wednesday morning trade, gaining for a third straight session as optimism over AI infrastructure demand continued to lift sentiment. The broader index hit a record high for the third consecutive session, tracking a rally on Wall Street overnight, where the S&P 500 and Nasdaq also reached record highs, supported by solid earnings reports and lower oil prices. The index surpassed the 40,000 level for the third straight day, mainly supported by gains in financials, electronics, and technology services. Among the top movers were MediaTek (4.4%), Hon Hai Precision Industry (3.8%), Fubon Financial Holdings (1.5%), and Delta Electronics (0.9%). Meanwhile, Contract chipmaker Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the total market value, rose 0.2%.

The TAIEX, Taiwan’s benchmark stock index, fell 134 points, or 0.3%, to 40,051 in morning trade on Tuesday, halting gains from the previous session, as traders took profits after the index hit a record high on Monday amid optimism over AI infrastructure demand. Losses in electronic technology and technology services stocks mainly drove the decline. A downbeat session on Wall Street overnight also pressured sentiment, amid worries that higher oil prices could fuel inflation following a new escalation in the Middle East. However, the index remained above the 40,000 level after surging 4.6% on Monday, closing above the 40,000-point mark for the first time, at 40,705, led by large-cap semiconductor stocks. Contract chipmaker TSMC, which accounts for more than 40% of total market value, fell 1.3% after jumping in the previous session. Other early losers included Delta Electronics (-2.2%), Unimicron Tech (-1.1%), and International Games System (-0.7%).