TAIPEI (Taiwan News) — During trading Tuesday (July 13), Taiwan‘s stock market index surged through the psychological barrier of 18,000 points but was unable to remain there.
The TAIEX moved up 33.19 points, or 0.19 percent, to close at 17,847.52 points, CNA reported. Before noon, the index had posted a surge of 203.71 points to reach a record level of 18,018.04 following a rising Dow Jones index overnight.
Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, saw its stock rise by 2.36 percent to close at NT$607 (US$21.66). Machinery, finance, and food shares ended up, while stock in paper and textile manufacturers declined.
The electronics sector accounted for 51.3 percent of the stock market turnover of NT$656.37 billion, while shipping took up 28.7 percent, with major container shipping companies falling.
Analysts said that if positive news emerged from an institutional investor presentation scheduled by TSMC for July 15, funds pouring into electronics stocks might push the TAIEX to new heights.