TAIEX Ends at Record High, Surpasses 49,000

The TAIEX, Taiwan’s benchmark stock index, surged 1,236 points, or 2.6%, to close at a fresh record high of 49,712 on Monday, rising for the fourth straight session, mainly buoyed by gains in electronic technology, producer manufacturing, and process industries. Traders were attempting to maintain momentum, tracking a rise on Wall Street on Friday, as a weaker-than-expected jobs report eased expectations of Fed monetary tightening. The broader index surpassed the 49,000 level for the first time, with electronic technology advancing 2.9%, amid optimism over AI-related investment and following a rally in US tech sectors. TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, climbed 3.0%. Meanwhile, MediaTek and Delta Electronics surged 4.3% and 6.4%, respectively. Producer manufacturing and process industries soared, with notable gains from Elite Material (9.9%), King Slide Works (10.0%), and Nan Ya Plastics Corporation (10.0%).