Taiwan Stocks Mark 2nd Monthly Gain, End at Record High

The TAIEX, Taiwan's benchmark stock index, fell 106 points, or 0.3%, to close at 39,933 on Thursday, retreating for the fifth consecutive session and marking its lowest level since April 30, mainly weighed down by energy minerals, technology services, and electronic technology stocks. Electronic technology stocks continued to decline amid concerns over returns on AI investment, falling 0.4% after plunging 3.8% in the previous session, mainly weighed down by Hon Hai Precision Industry (-3.2%), Nanya Technology (-7.2%), and Quanta Computer (-9.9%). However, TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rose 0.2%, rebounding from a 2.2% decline a day earlier after being included among the top 100 companies in this year's Fortune Global 500 for the first time. Meanwhile, moderating oil prices eased inflation concerns and expectations of an interest rate hike, limiting the decline.

The TAIEX, Taiwan's benchmark stock index, plunged 1,564 points, or 3.8%, to close at 40,039 on Wednesday, down for the fourth consecutive session and marking its lowest level since May 20, as a global selloff in chipmakers continued to weigh on technology heavyweights. Growing concerns over revenue amid heavy AI investments weighed on sentiment after the Philadelphia Semiconductor Index shed 4.5% overnight. The broader index tracked losses in US stock futures ahead of the Fed's monetary policy decision amid rising oil prices due to the escalating conflict in the Middle East. Electronic technology stocks slumped 4.5%, after falling 5.3% in the previous session, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, declining 2.2% following a 3.0% drop a day earlier. Meanwhile, ASE Technology Holding, Delta Electronics, and MediaTek slumped 9.9%, 7.9%, and 7.5%, respectively.

The TAIEX, Taiwan's benchmark stock index, slumped 1,397 points, or 3.74%, to 40,206 in Wednesday morning deals, down for the fourth consecutive session and marking its lowest level since May 20, as a global selloff in chipmakers continued to weigh on technology heavyweights. Electronic technology stocks plunged 4.2%, after slumping 5.3% in the previous session, with TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, falling 2.4% following a 3.0% drop a day earlier. Meanwhile, Delta Electronics and MediaTek plunged 7.6% and 7.5%, respectively. Among the major memory chip suppliers, Nanya Technology Corp. and Winbond Electronics Corp. plunged 9.9% and 9.7%, respectively. However, traders awaited the Fed's interest rate decision later today amid rising oil prices due to the escalating conflict in the Middle East.