The TAIEX, Taiwan’s benchmark stock index, surged 2,359 points, or 5.4%, to 42,060 by midday Monday, rebounding from its lowest level since April 30, hit on Friday. The rally followed strong gains on Wall Street, driven by a rebound in AI-related stocks.
Nearly all subsectors traded higher, led by electronic technology, which jumped 6.6%. TSMC — the world’s largest contract chipmaker and representing more than 40% of the market’s total capitalization — climbed 6.3% after a 4.7% drop on Friday. Other major tech names also advanced sharply, including MediaTek (9.9%), Hon Hai Precision (8.2%), and Delta Electronics (10.0%).
Easing oil prices further supported sentiment, tempering concerns about inflation and additional interest-rate hikes. Still, traders remained cautious ahead of China’s upcoming trade data and US inflation reports later this week, looking for signals on the Federal Reserve’s policy stance at its next meeting.
