Taiwan Shares Extend Rally to New Peak

The TAIEX, Taiwan’s benchmark stock index, rose 225 points, or 0.5%, to 44,482 in Thursday morning trading, extending gains from the previous session and mainly buoyed by electronic technology stocks. The broader index hit a new record high and surpassed the 44,000 level for a second straight day amid optimism over AI demand. Traders attempted to maintain the upward momentum, supported by the electronic technology sector, which rose 0.9%. Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the market’s total value, advanced 2.0%, while Hon Hai Precision Industry gained 2.1%. The broader index first touched the 44,000 level on Wednesday and closed at 44,257, mainly supported by a surge in electronic technology stocks. The index also tracked a rally in the S&P and Dow Jones on Wall Street overnight amid hopes of a US-Iran peace deal.

The TAIEX, Taiwan’s benchmark stock index, climbed more than 2% to around 44,700 on Wednesday, scaling a fresh record, powered by a rally in heavyweight electronic technology stocks. The advance was spearheaded by TSMC, which rose over 2%, tracking global optimism around artificial intelligence. Its peers MediaTek (+10%), Delta Electronics (+8.7%), Hon Hai Precision (+3.3%), and ASE Technology (+6.2%) also jumped. Meanwhile, markets continued to assess developments in the Middle East, following recent US military action in Iran, which underscored the fragility of ongoing Washington–Tehran diplomatic efforts and raised questions over whether a deal can still be reached. On the data front, Taiwan’s consumer confidence index slipped to 62.1 in May from 62.5 in April, marking its lowest level since January 2023, as external uncertainties continued to weigh on the outlook, particularly rising risks linked to the Iran conflict.

The TAIEX, Taiwan’s benchmark stock index, dropped 68 points, or 0.2%, to 43,577 in Tuesday morning trade, erasing gains from the previous three sessions, as traders took profits after the index hit a record high a day earlier. The decline was weighed down by electronic technology stocks, which fell 0.2%, with Taiwan Semiconductor Manufacturing Company (TSMC), which accounts for more than 40% of the market’s total value, dropping 0.9% after rising 2.4% on Monday. Meanwhile, Hon Hai Precision Industry and ASE Technology fell 0.4% and 1.6%, respectively. Rising oil prices also pressured the index after fresh US military strikes in Iran clouded the outlook for a US-Iran deal to reopen the Strait of Hormuz. The broader index closed at 43,644 on Monday, marking the fifth-largest closing-point gain on record, buoyed by the world’s largest chipmaker, TSMC. Taiwan overtook India in stock market value, buoyed by TSMC, bringing it to the fifth largest in the world, according to Bloomberg.