Taiwan Stocks Hit New High, End Above 48,000
The TAIEX, Taiwan’s benchmark stock index, rose 413 points, or 0.9%, to close at a fresh record high of 48,353 on Thursday, extending gains from the previous session, mainly boosted by rises in electronic technology, technology services, communication, and distribution services. Fresh data also fueled sentiment, as Taiwan's factory activity grew the most since August 2021. 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 1.0%. Meanwhile, MediaTek gained 1.2%, rebounding from losses in the previous session. Delta Electronics advanced 0.8%, Hon Hai Precision rose 1.0%, ASE Technology climbed 1.0%, and United Microelectronics surged 4.5%. However, a downbeat session on Wall Street overnight limited the gains amid rising oil prices. Traders also awaited the release of US jobs data for clues about the Fed's monetary policy decision at the upcoming meeting.
9%, to close at a fresh record high of 48,353 on Thursday, extending gains from the previous session, mainly boosted by rises in electronic technology, technology services, communication, and distribution services. Fresh data also fueled sentiment, as Taiwan's factory activity grew the most since August 2021. 0%. 2%, rebounding from losses in the previous session.
5%. However, a downbeat session on Wall Street overnight limited the gains amid rising oil prices. Traders also awaited the release of US jobs data for clues about the Fed's monetary policy decision at the upcoming meeting.