TAIPEI (Taiwan News) — Taiwan’s stock market climbed Monday, driven by gains in heavyweight technology and petrochemical stocks, pushing the benchmark TAIEX to new intraday and closing records.
The Taiwan Capitalization Weighted Stock Index rose 103.01 points to close at 32,064.52, after briefly reaching 32,196.75. Turnover totaled NT$724.6 billion (US$23 billion), according to CTEE.
TSMC hit a record intraday high of NT$1,785 before ending the session down 0.85% at NT$1,755. Delta Electronics closed down 2.38% at NT$1,230, while Foxconn added 1.13% to NT$224.
MediaTek extended recent gains following reports that Google has increased production targets for its custom-designed artificial intelligence accelerators. The stock gained 8.59% to NT$1,770.
Supply chain sources said that under optimistic assumptions, Google’s production of 3-nm Tensor Processing Units (TPUs) next year could total between 6 million and 7 million units, higher than earlier market estimates of about 5 million. MediaTek and Broadcom are expected to split the orders, according to Anue.
Memory-related shares moved higher after reports that Samsung raised prices for certain memory products. Macronix, Elite Semiconductor Microelectronics Technology, Walton Advanced Engineering, Winbond Electronics, and Adata Technology ended the session at their daily limit-ups.
Phison Electronics added 3.75%, while Nanya Technology rose 5.34% to NT$286. Foreign investors have issued a wide range of target prices for Nanya, ranging from NT$41 to NT$350, according to CTEE.
Petrochemical stocks also posted gains following supply disruptions in the eastern US, where a winter storm led to temporary shutdowns at refineries and chemical plants. Market sentiment was further supported by ongoing tensions between the US and Iran.
Formosa Plastics Group's affiliated companies ended higher, with Formosa Plastics, Formosa Chemicals and Fibre, and Formosa Petrochemical closing at their daily limit-ups. Nan Ya Plastics gained 5.97%.
Formosa Plastics, Formosa Chemicals and Fiber, and Formosa Petrochemical have revenue structures more closely tied to petrochemicals. They are often assessed separately from Nan Ya, which operates across both plastics and electronic materials and has greater exposure to semiconductor-related demand, according to Pocket Securities.
Other companies in the sector, including Taiwan United Shipping Industries, China General Plastics, Asia Polymer, and Taita Chemical, also recorded advances.
Prudential Financial Maxima Fund manager Kuo Ming-yu (郭明玉) said the market has been supported by strong earnings updates from AI-related companies, along with broadly favorable economic conditions. She noted that the TAIEX has risen by about 3,100 points since the start of the year, roughly a 10% increase, with rising trading activity and gains spreading across different sectors.
Concord Capital Management senior manager Lu Chin-wei (呂晉維) said daily trading in Taiwan’s stock market has recently stayed near NT$800 billion, a relatively high level that reflects active investor participation. He added that investors generally expect TSMC’s stock price to rise based on its earnings outlook, which has provided near-term support for the market.
As long as trading volume does not drop significantly, he said, the overall market trend is likely to remain positive. Looking ahead, Kuo said the market shows no clear signs of a downturn, though recent gains and heavy margin trading could slow further increases in the short term.
She added that memory chips are increasingly connected to advanced manufacturing, rather than moving only with the usual industry cycles, making investment in next-generation chip technology an important factor for market performance this year. She expects investors to focus on the US Federal Open Market Committee meeting and a busy week of technology earnings in the US.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.
