FX.co ★ Taiwan Stocks Scale Fresh High

The TAIEX, Taiwan’s benchmark stock index, jumped more than 2% to around 44,700 on Wednesday, setting a new record high, driven by a strong rally in heavyweight electronics and technology stocks. The gains were led by TSMC, which advanced more than 2%, buoyed by global optimism surrounding artificial intelligence. Other major chip and tech names also rallied sharply, including MediaTek (+10%), Delta Electronics (+8.7%), Hon Hai Precision (+3.3%), and ASE Technology (+6.2%).

At the same time, investors continued to monitor geopolitical developments in the Middle East after recent US military action in Iran, which highlighted the fragility of Washington–Tehran diplomatic efforts and cast doubt on the prospects for a new agreement. On the macroeconomic front, Taiwan’s consumer confidence index edged down to 62.1 in May from 62.5 in April, its lowest reading since January 2023, as external uncertainties weighed on sentiment, particularly the mounting risks associated with the Iran conflict.