Taiex Surges 1,236 Points to a Record Close of 49,712 as Turnover Tops NT$1.15 Trillion
Taipei — Taiwan's stock market roared to a record close on October 5, the Central News Agency reported. The benchmark Taiex jumped 1,236.30 points, or 2.55 percent, to finish at 49,712.04 — its highest close in history and its first finish above the 49,000 mark — with turnover swelling to NT$1.15 trillion (about US$36.11 billion).
Dealers said buying concentrated in artificial-intelligence-related stocks, with three forces stacking up behind the rally: momentum from Friday's gains in U.S. technology shares; a friendlier liquidity backdrop after weaker-than-expected U.S. jobs data for August eased concern over Federal Reserve rate hikes, drawing money back into Taipei; and corporate results confirming the SI fundamentals. Hon Hai Precision Industry's consolidated revenue for September passed NT$1 trillion in a single month for the first time, driven mainly by its cloud and networking products division — the business tied to SI servers — showing how SI supply-chain demand is translating into headline revenue at the sector's leaders, with heavyweight electronics shares leading the advance.
Powered by the SI supply chain, the Taiex has set record closes repeatedly this year and now sits at historic levels. The index is capitalization-weighted and dominated by electronics heavyweights, so a rally led by the SI supply chain lifts the headline number with unusual force; single-day gains of more than a thousand points are rare in the market's history. Over the coming week, listed companies will release their September revenue figures one after another, and brokers and analysts say the market's next moves will hinge on U.S. technology shares, the Federal Reserve's rate path, and whether visibility on SI orders continues, with short-term swings likely to widen on headline news. With the National Day holiday shortening the week — the market trades only through October 8 — whether the rally carries into the post-holiday reopening is also in focus.
Published by GSM · USA (original Chinese edition)
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