Taiwan Stocks Hit Record Highs: TSMC Surges, Index Tops 46,000

Taiwan's stock market achieved a new record high on Wednesday, with the TAIEX index closing at 46,459.16 points, marking a significant gain of 901.85 points. The surge was propelled by a strong performance in the technology sector, mirroring a rally in U.S. markets, particularly the Philadelphia Semiconductor Index.

Taiwan Semiconductor Manufacturing Company (TSMC) played a pivotal role in the day's trading, with its stock price soaring to a record high of 2,440 NT dollars during the session. Other major tech stocks, including Hon Hai Precision Industry Co. (Foxconn) and MediaTek, also contributed to the upward momentum, alongside gains in memory and AI-related companies.

However, the market's ascent faced some headwinds. While the index broke the 46,000-point mark and reached an intraday high of 46,552 points, profit-taking emerged later in the day. Memory chip stocks experienced a significant downturn, and TSMC's stock saw a slight pullback to close at 2,425 NT dollars. Despite these fluctuations, the overall trading volume remained robust at 1.45 trillion NT dollars.