The TAIEX, Taiwan’s benchmark stock index, rose 192 points, or 0.4%, to close at 45,121 on Tuesday, rebounding from early losses and extending gains from the previous session. The advance was driven largely by electronic technology and producer manufacturing shares.
The index hovered near its highest level since July 16, supported by continued strength in electronic technology stocks, which climbed 0.5% after a 2.1% jump in the prior session. TSMC, the world’s largest contract chipmaker and a heavyweight that accounts for more than 40% of the market’s total value, added 0.6% following a 0.4% increase on Monday. MediaTek gained 1.5%, while Yageo Corp., the world’s third-largest multilayer ceramic capacitor (MLCC) producer, surged 6.6%.
Still, a weak overnight performance on Wall Street capped the upside, as rising oil prices fueled uncertainty over the Federal Reserve’s policy stance at its upcoming meeting. Investors also remained cautious ahead of US inflation data due this week, seeking further signals on the Fed’s next monetary policy moves.
