Taiwan's stock index closes at a record 49,712 as buyers return to AI stocks, with TSMC also at a record

Taiwan's main share index closed at a record high on Monday 5 October. Focus Taiwan, the English service of the Central News Agency, reports that the Taiex ended up 1,236.30 points, or 2.55 percent, at 49,712.04, on turnover of NT$1.15 trillion.

TSMC rose 3.00 percent to close at a record NT$2,575.00, and the agency says the stock contributed about 600 points of the index's gain. According to the Taiwan Stock Exchange, as the agency reports it, foreign institutional investors bought a net NT$71.897 billion of shares on the main board.

The agency gives the trigger as Friday's US tech rally, which came amid easing concern over a Federal Reserve rate hike after weaker-than-expected US jobs data for August. Adam Lin, an analyst at Moore Securities Investment Consulting, told it that many investors who had stayed on the sidelines came back on Monday to buy AI-related stocks.

In Tokyo, Reuters reports, as carried by The Standard in Hong Kong, that the Nikkei had risen 2.53 percent to 70,037.61 by the midday break, its highest level since early July. Tokyo Electron gained 5.7 percent and Advantest 4.5 percent, both makers of equipment used to build and test AI chips.

Yesterday's edition reported that Wall Street's AI rally held even as Treasury yields reached 2002 levels. Monday's Asian session shows the same trade spreading to the chip supply chain. The Taiwan Stock Exchange's own data could not be opened from here, so all figures are as the two news agencies report them.

• Reported The Taiex closed up 1,236.30 points (2.55%) at a record 49,712.04; TSMC rose 3.00% to a record NT$2,575.00. Focus Taiwan (CNA)
• Reported Foreign institutional investors bought a net NT$71.897 billion of main-board shares, according to the Taiwan Stock Exchange. Focus Taiwan (CNA)
• Reported The Nikkei was up 2.53% at 70,037.61 by midday; Tokyo Electron +5.7%, Advantest +4.5%. Reuters via The Standard