TAIEX Ends Near Record High as Tech Stocks Rally

The TAIEX, Taiwan’s benchmark stock index, rose 538 points, or 1.1%, to close at 47,719 on Monday, gaining for the fourth straight session and hitting its highest level since June 22, when the index reached a record high, mainly supported by gains in electronic technology. Electronic technology climbed 1.4%, amid optimism over the Trump-Xi summit on September 24. TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, advanced 0.8%. Meanwhile, MediaTek, Delta Electronics, and ASE Technology Holdings surged 6.4%, 8.1%, and 3.9%, respectively. The broader index tracked a rise in US stock futures after the Dow Jones recorded a third straight losing week. Meanwhile, the PBoC held the one-year loan prime rate at 3% for the 16th straight month, while traders also awaited Taiwan's August export orders data after the closing bell, following a surge in July.

The TAIEX, Taiwan’s benchmark stock index, advanced 268 points, or 0.6%, to 47,449 in Monday morning deals, rising for the fourth straight session and hitting its highest level since June 22, when the index reached a record high, mainly buoyed by gains in electronic technology, commercial services, and energy minerals. Electronic technology rose 1.0%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, gaining 0.6%. Meanwhile, MediaTek and ASE Technology Holding soared 5.4% and 4.1%, respectively. The broader index tracked a rise in US stock futures after the Dow Jones recorded a third straight losing week. However, traders monitored developments in US-China relations ahead of the Trump-Xi summit on September 24. Meanwhile, the PBoC held the one-year loan prime rate at 3% for the 16th straight month, while traders also awaited Taiwan's August export orders data after the closing bell, following a surge in July.

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.