The TAIEX, Taiwan’s benchmark stock index, rose 407 points, or 0.9%, to close at 45,169 on Tuesday, reversing early-session weakness and fully retracing the previous day’s losses as electronic technology and technology services shares rebounded. Electronic technology gained 0.8%, technology services advanced 1.4%, and the finance subindex climbed 2.1%.
TSMC, the world’s largest contract chipmaker and a heavyweight that represents more than 40% of the market’s total capitalization, inched up 0.4%, recovering part of Monday’s 1.5% decline. Nanya Technology, a leading Taiwanese memory chip producer, rose 1.2% after slumping in early trading.
Trading sentiment remained restrained, however, as investors awaited the release of Taiwan’s retail sales and industrial production data after the close. Market participants were also cautious ahead of the upcoming US PCE price index data, which will help shape expectations for the Federal Reserve’s next monetary policy decision, as well as key FOMC remarks at the Jackson Hole Symposium.
