Taiwan stocks rebound to close above 45,000 points

Taiwan's stock market staged a significant recovery, closing above the 45,000-point mark after a volatile trading session. The TAIEX index gained 290.55 points to finish at 45,224.29, buoyed by a late rally driven by heavyweight technology stocks and a broad advance across traditional and financial sectors.

The session began on a cautious note, mirroring a mixed performance in global markets. U.S. stocks showed a downward trend on Thursday amid rising oil prices and Treasury yields, influencing Asian markets. The TAIEX initially opened lower, down 10.4 points, and extended its decline, falling over 340 points to test the 44,583 level and slipping below its quarterly moving average.

However, a strong rebound emerged as major players like Taiwan Semiconductor Manufacturing Co. (TSMC) and MediaTek, along with other high-priced tech stocks, rallied. This surge, combined with a comeback in the industrial and financial sectors, propelled the index upward. The recovery saw electronic stocks, including UMC, Hon Hai, and ABF substrate manufacturers, which had initially fallen, turn positive.

Total trading volume reached NT$719.2 billion. TSMC led the turnover, gaining NT$35 to close at NT$2,410, followed by Nanya Technology, which rose NT$11 to NT$528. Other notable stocks included Xin Hing, which fell NT$55 to NT$1,085, and MediaTek, up NT$90 to NT$3,790.

The market's ability to overcome early losses and close higher demonstrates resilience, with key sectors providing the necessary momentum. This recovery suggests underlying strength despite external economic pressures and initial trading sentiment.