FX.co ★ Taiwan Shares Mark Fourth Day of Gains, Lift to Record Peak

On Wednesday, the Taiwan Stock Exchange TAIEX reached an unprecedented peak of 24,158 by midday. This marked the fourth consecutive session of growth, fueled by optimism surrounding artificial intelligence advancements and the partial exemption of U.S. tariffs for leading chip manufacturers. Investor sentiment was also buoyed by a rally on Wall Street on Tuesday, following U.S. inflation data that reinforced the likelihood of a Federal Reserve interest rate cut in September. Additionally, a 90-day extension in the U.S.-China trade negotiations contributed to the positive outlook. In terms of trade, Taiwan experienced a significant export increase of 42.0% year-on-year in July, the most rapid growth seen since May 2010. This was primarily driven by robust shipments to the U.S., ASEAN countries, and China, while imports saw a rise of 20.8%, up from 17.3% in June. The TAIEX benchmark index has climbed approximately 40% since its low in April. Notable companies that experienced gains include Taiwan Semiconductor Manufacturing with a rise of 1.3%, Hon Hai Precision Industry at 0.5%, Mediatek at 1.1%, and Delta Electronics at 5.1%.