TAIPEI (Taiwan News) — Taiwan’s stock market closed up 90.43 points Monday (Sept. 16), ahead of the Mid-Autumn Festival, as investors await the US Federal Reserve's (Fed) interest rate decision.

Analysts predict a Fed rate cut could strengthen the New Taiwan Dollar, drawing foreign investment into Taiwan and benefiting its stock market. However, a rising Japanese Yen could pose carry trade risks for the market, per CNA.

The Federal Reserve is scheduled to hold its policy meeting later this week from Sept. 17 through 18, according to the Federal Reserve Board. Wall Street saw a mixed performance, with the Dow Jones Industrial Average (Dow Jones, DJIA) hitting a new high and closing at 41,622.08 points.

Other major stock indices performed mixed. The S&P 500 rose slightly, while the Nasdaq Composite and Philadelphia Semiconductor Index both declined.

Despite lower trading volume, Taiwan's stock market rose above its monthly average before the Mid-Autumn Festival. The total turnover reached NT$236 billion (US$7.4 billion).

Taiwan Semiconductor Manufacturing Company's (TSMC) strong third-quarter earnings outlook is expected to boost the market. First Capital Management Chair Chen I-kuang (陳奕光) predicts earnings per share will reach around NT$10 (0.31 cents).