TAIEX Hits New Peak, Ends 1.3% Higher

The TAIEX, Taiwan’s benchmark stock index, advanced 588 points, or 1.3%, to close at 46,465 on Thursday, gaining for the fifth straight session, mainly buoyed by electronic technology, commercial services, and producer manufacturing stocks. The broader index hit a fresh record high, surpassing the 46,000 level for the second time, as optimism over AI demand continued to lift sentiment. Reports that the US and Iran had digitally signed an interim peace agreement also boosted sentiment, as lower oil prices eased concerns over inflationary pressures. However, a downbeat session on Wall Street overnight limited gains after the Fed kept interest rates steady and signaled the possibility of rate hikes this year. Electronic technology stocks gained 1.3%, with TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rising 1.1%. Meanwhile, ASE Technology and Yageo Corporation climbed 3.0% and 9.8%, respectively.

The TAIEX, Taiwan’s benchmark stock index, climbed 530 points, or 1.2%, to 46,411 in Thursday morning trade, rising for the fifth straight session, mainly buoyed by electronic technology, finance, and technology services stocks. The broader index was close to a record high of 46,459, reached on June 3, when it surpassed the 46,000 level for the first time, as optimism over AI demand continued to lift sentiment. Reports that the US and Iran had digitally signed an interim peace agreement also boosted sentiment, as lower oil prices eased concerns over inflationary pressures. However, a downbeat session on Wall Street overnight capped gains after the Fed kept interest rates steady and signaled the possibility of rate hikes this year. Electronic technology stocks gained 1.2%, with TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rising 1.1%. Meanwhile, Delta Electronics and ASE Technology rose 0.9% and 2.9%, respectively.

The TAIEX, Taiwan’s benchmark stock index, slumped 1,568 points, or 3.5%, to close at 43,503 on Monday, retreating for the third straight session and touching its lowest level since May 22. The decline tracked losses on Wall Street on Friday, where a tech selloff weighed on sentiment.Traders were also concerned about expectations that high interest rates could weigh on AI-related stocks. Caution also built amid escalating tensions in the Middle East after Israel launched retaliatory strikes on Iran following Tehran's attacks on northern Israel. All sectors traded in negative territory, with electronic technology plunging 3.7%, technology services slumping 5.1%, and energy minerals falling sharply by 4.9%. TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, shed 3.0%. Other sharp losers included United Microelectronics (-8.0%), ASE Technology (-6.4%), Hon Hai Precision (-5.3%), MediaTek (-5.4%), and Delta Electronics (-2.0%)