Taiwan Stock Market Rises on AI Sector Strength

Taiwan's stock market closed higher on Wednesday, led by AI-related stocks. The Taiex index rose 397.35 points, or 0.88 percent, to 45,518.07.

The turnover was limited due to investors waiting for US inflation data, according to Hua Nan Securities analyst Kevin Su. He noted that AI-related stocks in the US saw a 0.87 percent increase on the Philadelphia Semiconductor Index.

TSMC and Hon Hai Precision Industry Co., both major players in the AI sector, rose 0.84 percent and 2.66 percent respectively. Compal Electronics Inc. soared 10 percent to close at NT$39.90, while Quanta Computer Inc. rose 3.17 percent.

The old economy stocks were mixed, but some machinery makers posted gains on strength in robotics production. Hiwin Mikrosystem Corp. and Airtac International Group closed up 3.89 percent and 2.24 percent respectively.