The TAIEX, Taiwan’s benchmark stock index, rose 141 points, or 0.3%, to close at 47,111 on Friday, rebounding after a decline in the previous session and pulling away from Thursday’s low, the weakest level since September 17. The recovery mirrored gains across other Asian markets, following a positive session on Wall Street as selling pressure in technology stocks eased.
Investors remained cautious ahead of a raft of key Chinese economic releases due next week, including GDP growth figures. Most sectors finished in positive territory, with electronic technology stocks advancing 0.2% after slumping 4% on Thursday. Among major constituents, MediaTek rose 2.8%, Delta Electronics added 0.3%, and Hon Hai Precision gained 2.7%.
In contrast, TSMC, the world’s largest contract chipmaker and a heavyweight that represents more than 40% of the market’s total capitalization, slipped 0.2%. The decline followed comments from CEO C.C. Wei on Thursday, warning of macroeconomic uncertainty and subdued consumer demand.
For the week, the index dropped 4.6%, snapping a five-week winning streak amid broad-based selling in technology shares.
