The TAIEX, Taiwan’s benchmark stock index, jumped 1,236 points, or 2.6%, on Monday to finish at a new all-time high of 49,712, extending its winning streak to a fourth consecutive session. The rally was driven primarily by strength in electronic technology, producer manufacturing, and process industries. Sentiment was bolstered by Friday’s gains on Wall Street, after a weaker-than-expected US jobs report tempered expectations of further monetary tightening by the Federal Reserve.
The index crossed the 49,000 mark for the first time, with the electronic technology subindex advancing 2.9%, supported by continued optimism around AI-related investment and following a strong performance in US technology stocks. TSMC, the world’s largest contract chipmaker and a heavyweight accounting for more than 40% of the local market’s total capitalization, rose 3.0%. MediaTek and Delta Electronics also posted solid gains, climbing 4.3% and 6.4%, respectively.
Producer manufacturing and process industries rallied sharply, with standout advances from Elite Material (up 9.9%), King Slide Works (up 10.0%), and Nan Ya Plastics Corporation (up 10.0%).