TAIEX Ends Higher but Holds Near 6-Week Low

The TAIEX, Taiwan’s benchmark stock index, climbed 55 points, or 0.1%, to close at 46,096 on Tuesday, paring gains from early trading and halting losses from the previous session as trading resumed after a two-day market closure. The broader index moved away from its lowest level since September 16, touched last Thursday, but remained close to that level as the heavyweight electronic technology sector was nearly flat. The slight gain tracked advances on Wall Street overnight amid a rebound in AI-related stocks. Moderating oil prices also boosted sentiment, easing concerns about inflation risks and interest rate hikes, although gains were limited by traders’ caution ahead of the Fed’s monetary policy decision this week. The technology services and financial sectors mainly lifted the index, with top performers including Nanya Technology Corp. (6.5%), Wiwiynn Corp (6.0%), Yageo Corp. (2.8%), Fubon Financial (2.2%), TSMC (0.6%), and Cathay Financial (0.4%).

The TAIEX, Taiwan’s benchmark stock index, climbed 294 points, or 0.6%, to 46,355 in Tuesday morning trade, erasing losses from the previous session as trading resumed after a two-day market closure. The broader index moved away from its lowest level since September 15, touched last Thursday, tracking gains on Wall Street overnight amid a rebound in AI-related stocks. The technology, financial, and commercial services sectors mainly lifted the index, with electronic technology rising 0.7%. Moderating oil prices also boosted sentiment, easing concerns about inflation risks and interest rate hikes. TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, recovered, rising 0.8%. Meanwhile, MediaTek, Hon Hai Precision, and ASE Technology Holding gained 0.6%, 1.0%, and 0.9%, respectively. However, gains were limited by traders’ caution ahead of the Fed’s monetary policy decision this week.

The TAIEX, Taiwan’s benchmark stock index, fell 846 points, or 1.8%, to 46,041 on Thursday, erasing gains from the previous session and tracking declines in US stock futures as investors digested earnings from Meta and Tesla. Rising oil prices further pressured sentiment, raising concerns over inflation expectations and interest rate hikes amid escalating tensions in the Middle East and the Russia-Ukraine conflict. The broader index fell to its lowest level since September 17, weighed mainly by electronic technology, producer manufacturing, process industries, and commercial services. Electronic technology stocks shed 2.3% amid ongoing concerns over AI investment, with TSMC, the world’s largest contract chipmaker, which accounts for more than 40% of the market’s total value, falling 1.5%. Meanwhile, MediaTek, Delta Electronics, and Hon Hai Precision fell 3.1%, 4.0%, and 2.0%, respectively. Process industries plunged 3.8%, mainly due to a 6.1% slump in Nan Ya Plastics Corporation.