AI, Tech Enthusiasm Sends Taiwan's Taiex to Another Record Close
Dow Jones14:38
0637 GMT - Taiwan's Taiex closed 0.75% higher at a record 48157.29, driven by gains in semiconductor and circuit manufacturing stocks. TSMC rose 1.6% and Foxconn added 1.2%. MediaTek rose 0.1% to end at a new high. The gains came as continued positive sentiment around AI and tech stocks on Wall Street sent the Nasdaq to another record high. Taiwan is benefiting from its unique position as the world's most important semiconductor production hub. Barclays raised its GDP growth forecasts for Taiwan to 12% this year and 5% next year, citing strong tech exports. Taiwan continues to benefit from strong semiconductor shipments and tech hardware, it adds.
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