TAIPEI (Taiwan News) — Taiwan’s benchmark stock index on Monday recorded a second straight session of significant gains, closing above the 47,000-point mark.
The Taiwan Stock Exchange Capitalization Weighted Index (TAIEX) closed up 775.14 points, or 1.67%, at 47,326.27. Turnover totaled NT$940 billion (US$29.7 billion), according to Taiwan Index Plus and CTEE.
Among the index’s most heavily weighted stocks, TSMC ended at NT$2,460, up 2.07%. MediaTek rose 7.81% to NT$4,760.
Foxconn closed flat at NT$256. Delta Electronics ended at NT$1,850, up 1.37%, while ASE Technology added 5.61% to NT$621, according to Yahoo Stocks.
UMC reported August revenue that increased for the sixth consecutive month, reaching its highest monthly level in nearly four years. The chipmaker closed at the daily limit of NT$143 on heavy trading volume.
Its strong performance also lifted other foundry stocks. PSMC gained 6.42%, and Vanguard International Semiconductor rose 4%.
Expectations of higher prices for certain products in the fourth quarter supported passive component stocks. Holy Stone Enterprise, which reported strong July earnings, rose to the daily limit for a second straight session, leading the sector.
Nichidenbo and Chinsan Electronic Industrial also closed at their daily limit-ups. Walsin Technology, Yageo, and Kaimei Electronics posted gains.
Strong performance by US memory chip stocks during Friday’s session supported Taiwan’s memory sector. Winbond Electronics rose 3.45% after August revenue set a new monthly high for the ninth consecutive month.
Nanya Technology added 4.23%. AP Memory and ESMT, both of which reported strong revenue figures, also gained.
The printed circuit board sector, which had been consolidating in previous sessions, strengthened. Lin Horn Technology, Taiflex Scientific, and Microcosm Technology all closed at daily limits, while Zhen Ding Technology Holding and Gold Circuit Electronics each gained 7-8%.
The TAIEX was driven higher by strong performances from TSMC and MediaTek, but trading volume failed to keep pace. Analysts said a further move toward 48,000 points will require stronger market participation, according to CTEE.
First Capital Management said investors will focus on Apple’s product launch and key US economic reports this week. Oil prices and developments in the Middle East, along with upcoming interest rate decisions by the European Central Bank and Bank of Japan, will also be key factors for market sentiment.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.
