Taiwan Stocks End Above 48,000 as Tech Stocks Rally

The TAIEX, Taiwan’s benchmark stock index, rose 286 points, or 0.6%, to close at 48,086 on Wednesday, 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 first time at close. Electronic technology climbed 1.2%, with TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, advancing 1.4% after falling on Tuesday. Meanwhile, Nanya Technology and Unimicron Technology jumped 3.8% and 3.6%, 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 lifted sentiment, as AI and tariffs are expected to be discussed at the meeting.