TAIEX rises 1.1% to over 5-week high
Taiwan’s TAIEX closed up 503 points, or 1.1%, at 46,021 for a fourth straight session, led by gains in electronic technology stocks and TSMC, MediaTek, and Delta Electronics.
The TAIEX, Taiwan’s benchmark stock index, rose 503 points, or 1.1%, to close at 46,021, gaining for the fourth straight session, mainly buoyed by electronic technology.
The broader index hit its highest level since July 6, as traders maintained the upward momentum in the technology sector.
Electronic technology stocks advanced 1.5%, following a 1.1% rise on Wednesday.
TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, advanced 0.8%.
MediaTek and Delta Electronics surged 5.4% and 4.8%, respectively.
Meanwhile, Yageo Corporation, a world leader in electronic passive components, soared 10% after the company became the fifth-largest holding of Norway's sovereign wealth fund.
A rally on Wall Street overnight also lifted sentiment, as moderated inflation eased expectations of a Fed rate hike at its upcoming meeting.