Taiwan Stock Market Reaches New High Amid Semiconductor Boom

Taiwan's stock market closed at a new high on October 2, driven by gains in the electronics sector. The Taiex index rose 0.25 percent to 48,475.74 after moving between 48,205.81 and 48,491.62.

The surge was fueled by semiconductor stocks, particularly TSMC, which accounts for over 40 percent of the market value but remained unchanged at NT$2,500.00. Meanwhile, smaller semiconductor stocks saw significant gains due to the ongoing AI boom.

However, investors exercised caution ahead of the U.S. September nonfarm payroll data release, limiting further gains in the market. The OTC semiconductor subindex rose 2.41 percent, while TSMC's index remained at 0.22 percent.

The Taiex's semiconductor subindex was driven by memory chip suppliers Nanya Technology Corp. and Macronix International Co., which rose 1.35 percent and 0.83 percent respectively after Micron Technology Inc.'s stronger-than-expected earnings report.