TAIPEI (Taiwan News) — After several days of losses, Taiwan's stock market surged by more than 1,600 points in early trading on Thursday following US tariff announcements, marking the largest intraday point gain in the nation's history.

US President Donald Trump announced on Wednesday that tariffs for all targeted countries, except for China, would temporarily be reduced to 10% for 90 days. This caused a rally in the US stock market, which in turn triggered a rebound in Taiwan’s stock market, per CNA.

Tariffs on Taiwan will temporarily drop from 32% to 10%. As of 9:58 a.m., the Taiwan Stock Exchange Capitalization Weighted Stock Index, or TAIEX, gained 1,610.1 points, surpassing the previous record of 920.62 points set on August 6, 2024.

The three major heavyweights hit the daily limit up in early trading. TSMC rose NT$78 (US$2.40) to NT$863, Foxconn gained NT$11 to reach NT$123.5, and MediaTek climbed NT$115 to reach NT$1,300.

Institutional investors noted that the rise in the US stock market eased investor anxiety, driving Taiwan’s strong recovery. The rebound was further supported by margin reductions and market stabilization.

Despite the positive momentum, caution remains as US policies continue to fluctuate. The reduction in US tariffs is temporary, and the ongoing trade conflict with China continues to escalate.