27.04.202602:32:34UTC+00Taiwan Stocks Near 40,000 Mark on AI Strength

The TAIEX, Taiwan’s benchmark stock index, jumped 902 points, or 2.3%, to 39,829 in Monday morning trading, as sustained optimism over AI infrastructure development continued to propel the market higher. The index set a record high for the second consecutive session after briefly crossing the 40,000 mark at the opening bell. Sentiment was further supported by new data showing a slight improvement in consumer confidence in April. Taiwan Semiconductor Manufacturing Co. (TSMC), the contract chipmaker that represents more than 40% of the market’s total capitalization, remained the principal engine of the rally, climbing 6.2%. Investors largely brushed aside the impact of failed U.S.-Iran ceasefire talks and kept the upward momentum intact. Gains were led by electronic technology and technology services shares, with SynPower soaring 10%, Nanya Technology Corp advancing 9.2%, and Macronix International rising 8.7%.