The TAIEX, Taiwan’s benchmark stock index, rose 588 points, or 1.3%, to close at 46,465 on Thursday, marking its fifth consecutive advance. Gains were led primarily by electronic technology, commercial services, and producer manufacturing shares. The index set a new record high and moved above the 46,000 level for only the second time, as sustained optimism over AI-related demand continued to support market sentiment.
Risk appetite was further lifted by reports that the US and Iran had digitally signed an interim peace agreement, which pushed oil prices lower and eased concerns about inflationary pressures. However, upside was capped by a weak performance on Wall Street, after the Federal Reserve left interest rates unchanged while signaling the possibility of further rate hikes later this year.
Electronic technology stocks advanced 1.3%. TSMC, the world’s largest contract chipmaker and a heavyweight accounting for more than 40% of the market’s total capitalization, gained 1.1%. Among other major names, ASE Technology rose 3.0%, while Yageo Corporation surged 9.8%.
