The TAIEX, Taiwan’s benchmark stock index, climbed 775 points, or 1.7%, to close at 47,326 on Monday, extending the previous session’s gains and edging closer to its record high set on June 22. The advance was driven by optimism over memory chip demand linked to a new model from OpenAI.
Broad-based gains were seen across the market, led by the electronics and technology sector, which rose 2.3%. TSMC, the world’s largest contract chipmaker and a heavyweight accounting for more than 40% of the market’s total value, added 2.1%.
MediaTek continued its sharp rally, jumping 8.4% after Nvidia last week subscribed to USD 3.5 billion of its exchangeable bonds, part of MediaTek’s record USD 3.9 billion overseas convertible bond issuance. Among other key names, Delta Electronics advanced 1.1%, while ASE Technology Holding surged 5.3%.
Investor sentiment was also supported by expectations for Taiwan’s August trade data, due later this week, amid continued optimism surrounding demand for AI-related infrastructure.
