The TAIEX, Taiwan’s benchmark stock index, jumped 1,190 points, or 2.5%, to a new record high of 49,666 in Monday morning trading, extending its winning streak to four sessions. The rally was driven primarily by gains in electronic technology, producer manufacturing, and process-related stocks.
Sentiment was bolstered by Wall Street’s advance on Friday, after a weaker-than-expected US jobs report tempered expectations of further monetary tightening by the Federal Reserve. The broader index broke through the 49,000 mark for the first time, with the electronic technology subindex climbing 2.7%, supported by optimism over AI-related investment and a strong performance in US tech shares.
TSMC, the world’s largest contract chipmaker and a heavyweight that represents more than 40% of the TAIEX’s total market value, rose 2.8%. Among other major tech names, MediaTek gained 2.5%, Delta Electronics advanced 4.5%, and Hon Hai Precision added 1.8%.
