TAIEX Stays Near 4-Week High on Tech Sector Boost

The TAIEX, Taiwan’s benchmark stock index, climbed 343 points, or 0.8%, to 45,464 around noon on Wednesday, extending gains for the third consecutive session, mainly buoyed by electronic technology and producer manufacturing. The broader index lingered at its highest level since July 16, as traders capitalized on the upward momentum in the tech sector. Electronic technology stocks rose 1.0%, with TSMC, the world's largest contract chipmaker and a company that accounts for more than 40% of the market's total value, rising 0.4% after a 0.6% gain a day earlier. Delta Electronics gained 0.6%, while Hon Hai Precision Industry surged 2.5%. Yageo Corp., the world's third-largest multilayer ceramic capacitor (MLCC) maker, rose 0.3%. However, a decline on Wall Street overnight limited gains, as rising oil prices raised questions about the Fed's monetary policy at its upcoming meeting, while traders awaited the release of US inflation data later today.

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.