TAIEX Ends Higher but Holds Near 6-Week Low
The TAIEX, Taiwan’s benchmark stock index, climbed 55 points, or 0.1%, to close at 46,096 on Tuesday, paring gains from early trading and halting losses from the previous session as trading resumed after a two-day market closure. The broader index moved away from its lowest level since September 16, touched last Thursday, but remained close to that level as the heavyweight electronic technology sector was nearly flat. The slight gain tracked advances on Wall Street overnight amid a rebound in AI-related stocks. Moderating oil prices also boosted sentiment, easing concerns about inflation risks and interest rate hikes, although gains were limited by traders’ caution ahead of the Fed’s monetary policy decision this week. The technology services and financial sectors mainly lifted the index, with top performers including Nanya Technology Corp. (6.5%), Wiwiynn Corp (6.0%), Yageo Corp. (2.8%), Fubon Financial (2.2%), TSMC (0.6%), and Cathay Financial (0.4%).
The TAIEX, Taiwan’s benchmark stock index, climbed 55 points, or 0.1%, to close at 46,096 on Tuesday, paring gains from early trading and halting losses from the previous session as trading resumed after a two-day market closure. The broader index moved away from its lowest level since September 16, touched last Thursday, but remained close to that level as the heavyweight electronic technology sector was nearly flat. The slight gain tracked advances on Wall Street overnight amid a rebound in AI-related stocks.
Moderating oil prices also boosted sentiment, easing concerns about inflation risks and interest rate hikes, although gains were limited by traders’ caution ahead of the Fed’s monetary policy decision this week. The technology services and financial sectors mainly lifted the index, with top performers including Nanya Technology Corp. (6.5%), Wiwiynn Corp (6.0%), Yageo Corp. (2.8%), Fubon Financial (2.2%), TSMC (0.6%), and Cathay Financial (0.4%).