Taiwan Stocks Hit Record High as Tech Stocks Rally

The TAIEX, Taiwan’s benchmark stock index, rose 355 points, or 0.7%, to 48,255 in Wednesday morning trading, gaining for the sixth straight session and hitting a record high, mainly buoyed by gains in electronic technology amid optimism over AI infrastructure investment. The index surpassed the 48,000 mark for the third time intraday. Electronic technology advanced 1.2%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, climbing 1.2% after falling on Tuesday. Meanwhile, Nanya Technology and Asia Vital Component surged by 5.0% and 4.1%, respectively. The broader index rose after the tech-heavy Nasdaq Composite on Wall Street hit a record high, buoyed by solid gains in AI-related companies. Further easing in oil prices and US Treasury yields also fueled sentiment. Optimism over the Trump-Xi summit this week also fueled sentiment, as AI and tariffs are expected to be discussed at the meeting.