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Taiwan Stock Exchange Taiex Surges Above 16,700 Points as AI Stocks Capture Traders’ Attention

Summary

In an impressive display of growth, the Taiwan Stock Exchange (TWSE) saw its benchmark index, Taiex, finish the trading day above 16,700 points. Traders eagerly sought after stocks related to the booming field of artificial intelligence (AI). Despite this positive […]

Taiwan Stock Exchange Taiex Surges Above 16,700 Points as AI Stocks Capture Traders’ Attention

In an impressive display of growth, the Taiwan Stock Exchange (TWSE) saw its benchmark index, Taiex, finish the trading day above 16,700 points. Traders eagerly sought after stocks related to the booming field of artificial intelligence (AI). Despite this positive development, the market remained cautious due to concerns of a potential major technical downturn following a 4% increase over the past five trading days.

The weighted index Taiex closed with a gain of 55.88 points, or 0.33%, at 16,740.83, fluctuating between 16,665.40 and 16,775.23 during the day. Total turnover amounted to NT$274.43 billion (approximately US$8.5 billion).

The market opened with an initial increase of 6.37 points, and the momentum propelled Taiex by approximately 90 points to reach its peak value in morning trading.

During the morning session, investors placed their focus on stocks related to artificial intelligence as well as selected semiconductor stocks, taking cues from the gains witnessed in the American markets. The technology-heavy Nasdaq index recorded a 0.90% increase, while benchmark 10-year government bond yields moved slightly downward.

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