TAIEX rises 0.9% to 45,169 after morning weakness
Taiwan’s benchmark TAIEX climbed 407 points, or 0.9%, to close at 45,169 on Tuesday, led by gains in electronic technology, technology services, and finance.
The TAIEX, Taiwan’s benchmark stock index, climbed 407 points, or 0.9%, to close at 45,169 on Tuesday, reversing weakness in morning trade and erasing losses from the previous session, as electronic technology and technology services rebounded.
Electronic technology and technology services rose 0.8% and 1.4%, respectively, while finance advanced 2.1%.
TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, gained 0.4%, recovering from a 1.5% fall on Monday.
Nanya Technology, a major Taiwanese memory chip supplier, rose 1.2% after plunging in morning trade.
However, traders were cautious ahead of the release of Taiwan's retail sales and industrial output data after the closing bell.
Caution was also evident ahead of the US PCE price data for guidance on the Fed's monetary policy decision at its upcoming meeting, as well as FOMC speeches at the Jackson Hole Symposium.