Taiwan Stocks Hit New High, End Above 48,000

The TAIEX, Taiwan’s benchmark stock index, rose 413 points, or 0.9%, to close at a fresh record high of 48,353 on Thursday, extending gains from the previous session, mainly boosted by rises in electronic technology, technology services, communication, and distribution services. Fresh data also fueled sentiment, as Taiwan's factory activity grew the most since August 2021. Electronic technology advanced 1.2%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, climbing 1.2%. Meanwhile, MediaTek gained 1.2%, rebounding from losses in the previous session. Delta Electronics advanced 0.8%, Hon Hai Precision rose 1.0%, ASE Technology climbed 1.0%, and United Microelectronics surged 4.5%. However, a downbeat session on Wall Street overnight limited the gains amid rising oil prices. Traders also awaited the release of US jobs data for clues about the Fed's monetary policy decision at the upcoming meeting.

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.