Taiwan Stocks Break 43,000 Level

The TAIEX, Taiwan’s benchmark stock index, surged 1,209 points, or 2.9%, to 43,477 around midday on Monday, gaining for a third straight session and tracking rises in U.S. futures buoyed by optimism surrounding US-Iran end-of-war talks. The broader index touched 43,000 for the first time, mainly supported by a surge in electronic technology stocks, which jumped 3.5%. Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the market’s total value, rose 1.8%, while MediaTek jumped 10.0% and Delta Electronics soared 8.8%. Meanwhile, technology services rose 1.8%, with Co-Tech Development Corp soaring 4.8%. However, traders awaited the release of data on the country’s industrial production for April after it jumped in March, as well as retail sales data for April.

The TAIEX, Taiwan’s benchmark stock index, rose 627 points, or 1.5%, to 41,997 in Friday morning trade, gaining for a second straight session and tracking a rally on Wall Street overnight as oil prices eased amid optimism over a US-Iran deal to end the war. The broader index hit a record high, mainly boosted by gains in electronic technology and technology services stocks. The electronic technology sector rose 1.5%, with Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the market’s total value, up 0.2%. Meanwhile, MediaTek jumped 6.2%, while Delta Electronics and Hon Hai Precision each gained 1.0%. Markets were attempting to maintain positive momentum after posting their fifth-largest single-day gain a day earlier. However, traders remained focused on the upcoming release of US GDP data and the PCE price index for Q2 next week. For the week, the index is on track for a 2.0% gain after declining in the previous week.

The TAIEX, Taiwan’s benchmark stock index, dropped 262 points, or 0.4%, to 40,911 around midday on Monday, retreating for the second straight session and tracking declines in U.S. futures amid escalating tensions in the Middle East after U.S. President Trump warned Iran, while investors also awaited Nvidia’s earnings report. The broader index touched its lowest level since May 5, mainly weighed down by losses in electronic technology, financials, technology services, and health technology stocks. The electronic technology sector fell 0.8%, with Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the market’s total value, down 1.6%, while Delta Electronics plunged 3.4%. A series of weak economic data from China also pressured sentiment, while markets anticipated the PBOC’s interest rate decision later this week. Other major losers included ASE Technology Holding (-7.0%), Unimicron Technology (-2.2%), and Accton Technology (-1.1%).