The TAIEX, Taiwan’s benchmark stock index, rose 122 points, or 0.3%, to close at a fresh record high of 48,476 on Friday, extending its winning streak to a third session. The advance was led primarily by gains in energy minerals, producer manufacturing, and process industries, as traders sought to build on Thursday’s record close.
The local market also benefited from a positive lead on Wall Street, where easing US Treasury yields supported risk appetite. The energy and mineral sector jumped 6.1%, lifted by a 6.2% surge in Formosa Petrochemical Corp., driven by higher crude oil prices and robust refining margins.
By contrast, the heavyweight electronic technology sector added just 0.2%. Taiwan Semiconductor Manufacturing Company (TSMC)—the world’s largest contract chipmaker and accounting for more than 40% of the TAIEX’s total market capitalization—slipped 0.4%.
Other notable gainers included Unimicron Technology, up 7.4%, Elite Material, up 3.9%, and Nan Ya Plastics, which advanced 2.6%. For the week, the TAIEX climbed 0.9%, marking its third consecutive weekly rise.
