Taiwan Stocks Soar on Ceasefire Hopes; Taishin Financial a Major Gainer

Taiwan's stock market experienced a significant surge on Monday, with the TAIEX index closing up by an impressive 1227 points. The rally was fueled by positive investor sentiment, largely attributed to the news of a ceasefire agreement between the United States and Iran.

Institutional investors played a crucial role in driving the market upwards. Investment trusts continued their support for Taiwanese stocks, with a net buying of NT$4.895 billion. Foreign investors also demonstrated strong confidence, actively participating in the market's upward momentum.

Among the day's top performers, Taishin Financial Holding (2887) stood out, attracting substantial interest from both investment trusts and foreign investors. Investment trusts purchased over 32,987 shares, while foreign investors bought more than 6,800 shares. This combined buying pressure contributed to a consecutive rise in Taishin Financial Holding's stock price, which increased by 4.64% on Monday to close at NT$31.6, with a trading volume of 124,400 shares.

Other companies that saw significant buying from investment trusts included United Microelectronics Corporation (2303), Mega Financial Holding (2886), and Nanya Technology (2408), reflecting broad institutional confidence across various sectors. The overall market performance indicated a positive outlook, with 1269 companies participating in the day's gains.