Taiwan's Taiex Hits Record Intraday High Amid Tech Sector Gains
On Tuesday, Taiwan’s benchmark Taiex index reached an intraday high of 48,601.53, driven by strong performance in the tech sector and fueled by optimism over AI developments on Wall Street. Semiconductor leaders TSMC (TSM), MediaTek (MDCTF), and Delta Electronics all posted gains as investor confidence grew due to Taiwan’s critical role in global semiconductor manufacturing. The rally follows a record high set three months earlier in June, with the tech sector accounting for about 88% of the Taiex index. Standard Chartered noted that Taiwan produces over 90% of advanced semiconductors globally and has become the world's sixth-largest stock market by capitalization. Investors are also watching upcoming data on August export orders expected later in the day, with forecasts suggesting continued resilience due to sustained AI-related demand.
Tickers: $TSM
Topics: AI-driven rally semiconductor industry Taiwan stock market