Taiwan Taiex Hits Record High on Tech Rally — SkimNews
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- Taiex rose to a record intraday high of 48,601.53 on Tuesday, driven by tech-sector gains following an AI-driven Wall Street rally that was tied to investor optimism over Meta's AI agent.
- TSMC rose 0.40%, MediaTek gained 7.88%, and Delta Electronics climbed 2.67% — the three semiconductor giants are the largest companies by market capitalization on the benchmark index.
- Taiwan's tech sector represents about 88% of the Taiex, with most of that concentrated in semiconductors, according to a July note from Standard Chartered.
- Taiwan produces over 90% of the world's most advanced semiconductor chips (7 nanometres and smaller) and has overtaken Canada to become the world's sixth-largest stock market by equity-market capitalization, per HSBC data from May.
- The latest record comes roughly three months after the Taiex hit its previous high in June, with year-to-date gains fueled by the AI boom and Taiwan's role in the global chip supply chain.
- Traders are awaiting August export orders due later in the session, with markets expecting a 63.0% y/y print that UOB says would underscore sustained AI-related demand.
Why it matters: Taiwan's stock market has surged to record highs on the back of the AI boom, becoming the world's sixth-largest equity market by capitalization. With tech — almost entirely semiconductors — making up roughly 88% of the Taiex and AI demand expected to persist based on August export orders projected at 63.0% y/y, the index's outsized concentration means a single sector shock could move the entire benchmark.
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