TAIEX Ends 1.7% Higher, Hits 11-Week High

The TAIEX, Taiwan’s benchmark stock index, rose 775 points, or 1.7%, to close at 47,326 on Monday, extending gains from the previous session and moving near its record high reached on June 22, lifted by optimism over memory chip demand linked to a new model from OpenAI. The broader index rose, mainly buoyed by gains in electronic technology, which increased 2.3%. TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, advanced 2.1%. MediaTek continued to surge, soaring 8.4%, after Nvidia subscribed last week to USD 3.5 billion of its exchangeable bonds as part of MediaTek's record USD 3.9 billion overseas convertible bond offering. Meanwhile, Delta Electronics gained 1.1%, while ASE Technology Holding surged 5.3%. Traders also anticipated the release of Taiwan's August trade data later this week, amid optimism over AI infrastructure demand.

The TAIEX, Taiwan’s benchmark stock index, advanced 863 points, or 1.9%, to 47,414 in Monday morning deals, extending gains from the previous session and moving near its record high reached on June 22, lifted by optimism over memory chip demand linked to a new model from OpenAI. The broader index rose, mainly buoyed by gains in electronic technology, which advanced 2.4%. TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, climbed 1.5%. MediaTek continued to rise, jumping 9.7%, after Nvidia subscribed last week to USD 3.5 billion of its exchangeable bonds as part of MediaTek's record USD 3.9 billion overseas convertible bond offering. Meanwhile, Delta Electronics gained 1.9%, while ASE Technology Holding surged 5.3%. Traders also anticipated the release of Taiwan's August trade data later this week, amid optimism over AI infrastructure demand.

The TAIEX, Taiwan’s benchmark stock index, climbed 820 points, or 1.8%, to 46,949, gaining for the fifth straight session and hitting its highest level since July 1, mainly buoyed by gains in electronic technology. Electronic technology rose 2.0%, while technology services jumped 6.4%. TSMC, the world's largest contract chipmaker, accounting for more than 40% of the market's total value, advanced 0.8%. MediaTek surged 9.9% after Nvidia subscribed to USD 3.5 billion of its exchangeable bonds as part of MediaTek's record USD 3.9 billion overseas convertible bond offering. Meanwhile, Delta Electronics and Hon Hai Precision Industry gained 0.8% and 1.6%, respectively, while ASE Technology Holding soared 4.5%. The fresh data also lifted sentiment, as a private survey showed that Taiwan's factory activity grew solidly in August. However, a fall on Wall Street overnight capped gains, as rising oil prices raised concerns over inflation and reinforced expectations of a Fed rate hike.