TAIEX Erases Losses, Ends Near 4-Week High

The TAIEX, Taiwan’s benchmark stock index, rose 192 points, or 0.4%, to close at 45,121 on Tuesday, reversing morning weakness and extending gains from the previous session, mainly buoyed by electronic technology and producer manufacturing. The broader index lingered at its highest level since July 16, with electronic technology stocks continuing to climb, advancing 0.5% following a 2.1% rise in the previous session. TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rose 0.6% after a 0.4% gain on Monday. MediaTek increased 1.5%, while Yageo Corp., the world's third-largest multilayer ceramic capacitor (MLCC) maker, surged 6.6%. However, a downbeat session on Wall Street overnight limited gains, as rising oil prices raised questions about the Fed's monetary policy decision at its upcoming meeting. Traders also awaited the release of US inflation data due this week for further clues about the Fed's monetary policy decision.

The TAIEX, Taiwan’s benchmark stock index, fell 233 points, or 0.5%, to 44,695 in Tuesday morning trade, erasing gains from the previous session and tracking a decline on Wall Street overnight as rising oil prices raised questions about the Fed's monetary policy decision at its upcoming meeting. The broader index moved down from its highest level since July 16, touched a day earlier, mainly weighed down by losses in electronic technology, finance, process industries, and technology services. Traders also awaited the release of US inflation data due this week for clues about the Fed's monetary policy decision at its upcoming meeting. Electronic technology stocks fell 0.6%, reversing a 2.1% gain in the previous session, with MediaTek declining 0.9%, while Delta Electronics and Hon Hai Precision shed 0.3% and 1.1%, respectively. However, TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rose 0.2%, following a 0.4% rise on Monday.

The TAIEX, Taiwan’s benchmark stock index, gained 703 points, or 1.6%, to close at 44,929 on Monday, halting losses from the previous two sessions and tracking a rally on Wall Street on Friday after weaker-than-expected jobs data eased concerns over Fed rate hikes at the upcoming meeting. The broader index hit its highest level since July 16 after consolidating in the previous session amid concerns over massive spending on AI. The increase was mainly driven by health technology and electronic technology stocks, which climbed 2.1%. TSMC, the world's largest contract chipmaker, which accounts for more than 40% of the market's total value, rose 0.4%, while MediaTek advanced 1.5% and Delta Electronics jumped 10.0%. However, rising oil prices limited the gains, as concerns over inflation raised expectations of interest rate hikes. Traders also anticipated the release of US inflation data due this week for clues about the Fed's monetary policy decision at its upcoming meeting.