22.06.202606:21:12UTC+00TAIEX Ends at New Record High on Tech Rally

The TAIEX, Taiwan’s benchmark stock index, jumped 1,276 points, or 2.8%, to close at a new record high of 47,742 on Monday, extending its winning streak to a sixth consecutive session. It was also the second straight session in which the index set an all-time high, after trading resumed following a market holiday on Friday.

The broader index moved above the 47,000 mark for the first time, driven primarily by strong gains in electronic technology and process industry shares. Market sentiment was further supported by statements from Pakistan and Qatar, the mediating countries in US-Iran negotiations, indicating progress toward a peace deal.

Electronic technology stocks climbed 3.3%, as ongoing optimism over AI-related demand continued to bolster the sector. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker and a heavyweight accounting for more than 40% of the market’s total capitalization, surged 4.2% after reports that it was accelerating the rollout of its CoPoS technology.

Among other key names, MediaTek advanced 2.4%, Hon Hai Precision Industry edged up 0.2%, and ASE Technology Holding soared 10.0%.