Staff writer, with CNA
Shares in Taiwan closed at a new high, soaring more than 1,200 points yesterday, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) broke closing records amid optimism over global artificial intelligence (AI) development, dealers said.The TAIEX ended up 2.75 percent at 47,741.51 with turnover of NT$1.44 trillion (US$45.5 billion).“Investors took their cue from a rally among chip stocks in the United States last week and chased semiconductor stocks in Taiwan today,” Hua Nan Securities Co (華南永昌證券) analyst Kevin Su (蘇俊宏) said, referring to a 6.42 percent surge on the Philadelphia Semiconductor Index on Thursday before a public holiday on Friday.
A man walks pass the electronic board yesterday in Taipei. The TAIEX yesterday climbed 2.75 percent to 47,741.51, hitting a record high.
“The buying was sparked by optimism over robust global demand for AI applications, with TSMC in focus on strong high-end chip sales,” Su said.After its American depositary receipts rose 6.94 percent on Thursday, shares in TSMC, which accounts for more than 40 percent of market value, rose 4.15 percent to close at NT$2,510.00, contributing about 800 points to the TAIEX’s rise and sending the electronics index up 3.28 percent.
