Taiwan Stocks Hit Fresh Peak Above 47,000 Mark

The TAIEX, Taiwan’s benchmark stock index, surged 1,239 points, or 2.7%, to a fresh record high of 47,704 in Monday morning trading, extending gains for a sixth straight session after resuming trading following a holiday on Friday. The broader index surpassed the 47,000 level for the first time, mainly boosted by gains in electronic technology, manufacturing, and commercial services stocks. Sentiment was also lifted by a statement from Pakistan and Qatar, the mediating countries, that progress had been made in US-Iran peace deal talks. Electronic technology stocks soared 3.1% as optimism over AI demand continued to support sentiment, with TSMC, the world's largest contract chipmaker and a company accounting for more than 40% of the market's total value, surging 3.1%. MediaTek, Delta Electronics, and Hon Hai Precision Industry rose 2.4%, 0.9%, and 2.2%, respectively, while ASE Tech jumped 10.0%.

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.