The TAIEX, Taiwan’s benchmark stock index, climbed 413 points, or 0.9%, to a new record close of 48,353 on Thursday, extending the previous session’s gains. The advance was driven primarily by strength in electronic technology, technology services, communication, and distribution services shares. Sentiment was further supported by fresh data showing Taiwan’s factory activity expanding at the fastest pace since August 2021.
Electronic technology stocks rose 1.2%. TSMC — the world’s largest contract chipmaker and accounting for more than 40% of the market’s total capitalization — gained 1.0%. MediaTek added 1.2%, rebounding from losses in the prior session. Among other major names, Delta Electronics increased 0.8%, Hon Hai Precision climbed 1.0%, ASE Technology advanced 1.0%, and United Microelectronics jumped 4.5%.
Gains were capped, however, by a weak session on Wall Street overnight and rising oil prices. Investors also remained cautious ahead of the release of U.S. employment data, seeking further clues on the Federal Reserve’s monetary policy stance at its upcoming meeting.
