Taiwan Stocks Hit 2-Month High on Tech Boost

The TAIEX, Taiwan’s benchmark stock index, advanced 268 points, or 0.6%, to 47,449, rising for the fourth straight session and hitting its highest level since June 22, when the index reached a record high, mainly buoyed by gains in electronic technology, commercial services, and energy minerals. Electronic technology rose 1.0%. TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, gained 0.6%. Meanwhile, MediaTek and ASE Technology Holding soared 5.4% and 4.1%, respectively. The broader index tracked a rise in US stock futures after the Dow Jones recorded a third straight losing week. However, traders monitored developments in US-China relations ahead of the Trump-Xi summit on September 24. Traders also anticipated Taiwan's export orders data for August after the closing bell, following a surge in July.