TAIPEI (Taiwan News) — Taiwan's stock market opened higher and continued to rise on Monday, with foreign investors making a large net purchase, marking the seventh-largest single-day gain in the market’s history.

Foreign investors typically take a break around Christmas, leading to subdued trading activity. However, this year saw an unexpected shift, as foreign investors turned from net sellers to net buyers, per CNA.

The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed up 594.29 points at 23,104.54. Turnover totaled NT$353.086 billion (US$10.8 billion).

Heavyweight stocks like TSMC and Foxconn led the rally, while domestic investors and corporate groups engaged in year-end window dressing. Strong performances from holding companies such as Egis Technology, Abico Avy, and Hiwin Technologies further boosted the market.

Among the top ten stocks with the largest net purchases by foreign investors, textile manufacturer Far Eastern New Century topped the list with more than 52,000 shares bought. Fuh Hwa Taiwan Technology Dividend Highlight ETF followed closely with over 44,000 shares purchased.

Other popular picks included Walshin Lihwa, Shin Kong Financial Holding, Innolux, CTBC Financial Holding, Mega Financial Holding, Yuanta Financial Holding, AUO, and the 00940 Yuanta Taiwan Value High Dividend ETF. Most purchases focused on financial stocks, apart from the two panel makers and ETFs.

Foreign investors also added more than 17,000 shares of TSMC, which ranked 11th in net purchases. On the list of top ten stocks with the largest net sales by foreign investors, Yang Ming Marine Transport topped the list, with more than 55,000 shares sold.

Analysts noted that for the market to maintain its upward momentum, it will be crucial to monitor whether buying interest in major electronics stocks can continue.