The TAIEX, Taiwan’s benchmark stock index, climbed 863 points, or 1.9%, to 47,414 in Monday morning trading, extending the previous session’s gains and approaching its record high set on June 22. Sentiment was boosted by optimism over memory chip demand tied to a new model from OpenAI.
The broader market advanced, led primarily by electronic technology shares, which rose 2.4%. TSMC, the world’s largest contract chipmaker and a heavyweight accounting for over 40% of the market’s total capitalization, gained 1.5%. MediaTek continued its upward momentum, soaring 9.7%, after Nvidia last week subscribed to USD 3.5 billion of its exchangeable bonds as part of MediaTek’s record USD 3.9 billion overseas convertible bond issuance.
Among other major tech names, Delta Electronics added 1.9%, while ASE Technology Holding jumped 5.3%. Traders were also looking ahead to Taiwan’s August trade data, due later this week, amid continued optimism over demand for AI-related infrastructure.
