TAIEX Ends at Record High, Nears 49,900

The TAIEX, Taiwan’s benchmark stock index, rose 111 points, or 0.2%, to a fresh record peak of 49,823 on Tuesday, extending gains for a fifth consecutive session, buoyed by gains in financials, process industries, and technology services. The broader index closed above the 49,000 level for the second straight session, tracking an upbeat session on Wall Street overnight, driven by a rally in tech stocks. Traders sought to capitalize on the momentum, with the financial sector rising 1.2%, mainly supported by gains in Fubon Financial Holding (1.6%), Cathay Financial Holding (0.5%), and CTBC Financial Holding (1.5%). Meanwhile, process industries climbed 1.4%, with Nan Ya Plastics Corp. rising 2.5%, while technology services surged 3.5%, boosted by a 6.5% jump in Wiwynn Corp. By contrast, electronic technology edged down 0.1%; however, TSMC, the world's largest contract chipmaker and accounting for more than 40% of the market's total value, rose 0.4%.