TAIEX Ends 0.7% Higher, Logs Strong Quarterly Gain

The TAIEX, Taiwan’s benchmark stock index, advanced 308 points, or 0.7%, to close at 47,940 on Wednesday, halting losses in the previous two sessions, mainly boosted by gains in electronic technology following a rise in the Philadelphia Semiconductor Index. The broader index touched a fresh record high of 48,380 in morning trade before closing at 47,940. Electronic Technology rose 1.2%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, climbing 1.0%. Meanwhile, MediaTek and Delta Electronics gained 1.2% and 4.4%, respectively. However, a downbeat session on Wall Street overnight capped the gains amid surging US Treasury yields. Traders also anticipated the release of the US PCE Index for clues about the Fed's monetary policy decision at the upcoming meeting. The index surged 3.9% in Q3, marking its third consecutive quarterly gain, amid optimism over AI-related investment.

The TAIEX, Taiwan’s benchmark stock index, rose 615 points, or 1.3%, to a new record high of 48,247 in Wednesday morning trade, halting losses in the previous two sessions, mainly boosted by gains in electronic technology following a rise in the Philadelphia Semiconductor Index. Electronic Technology gained 1.5%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, advancing 1.2%. Meanwhile, MediaTek and Delta Electronics surged 2.8% and 3.0%, respectively. Hon Hai Precision Industry gained 0.6%, while ASE Technology Holding rose 2.6%. China's PMI data also fueled sentiment, as private-sector activity in the mainland accelerated in September. However, a downbeat session on Wall Street overnight capped the gains amid surging US Treasury yields. Traders also anticipated the release of the US PCE Index for clues about the Fed's monetary policy decision at the upcoming meeting. The index is heading for a 4.6% quarterly jump.

The TAIEX, Taiwan’s benchmark stock index, fell 133 points, or 0.3%, to close at 48,025 on Thursday, paring earlier losses and snapping a six-session winning streak, as traders took profits after the index hit a record high a day earlier. The broader index tracked a decline on Wall Street overnight amid rising oil prices and US Treasury yields, due to uncertainty over US-Iran talks. Traders also anticipated the Trump-Xi summit, with AI and tariffs expected to be discussed at the meeting. The decline was mainly weighed down by electronic technology, finance, and health technology. Electronic Technology fell 0.4% after rising 1.2% in the previous session, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, falling 1.0%, reversing a 1.6% gain on Wednesday. Meanwhile, Hon Hai Precision, United Microelectronics, and Nanya Tech shed 2.2%, 3.8%, and 2.3%, respectively.