Taiwan Stock Market Surges, Kai Fund Hits Record High

Taiwan's stock market experienced a strong rally, with the main index closing at 12,001 points on Tuesday. The surge was driven by high-priced technology stocks like MediaTek, Taimideh, and Delta Electronics, supported by gains in the financial and traditional sectors. Investment trusts were particularly active, making substantial purchases totaling NT$20.568 billion. Among the day's biggest winners was the newly launched "Kai Fund" (00919), which saw its stock price climb 8.6% to close at NT$29.05. This performance marked a new high for the fund since 2001, bringing significant gains to its 740,000 shareholders. The Kai Fund's substantial increase was fueled by investment trusts buying 93,853 shares. Other top stocks heavily bought by investment trusts included Far Eastern New Century, Fubon Financial Holding, Cheng Shin Rubber, and Quanta Computer. The strong market performance and the success of funds like Kai Fund indicate a positive sentiment among investors and a robust inflow of capital into the Taiwanese market.