TAIEX Nears 2

TAIEX Nears 2-Month High on Tech Sector Boost

The TAIEX, Taiwan’s benchmark stock index, rose 373 points, or 0.8%, to 46,349 in Friday morning deals, gaining for the fourth consecutive session and tracking a rally on Wall Street overnight, buoyed by tech sectors following solid Nvidia earnings.

The broader index reached its highest level since July 6, mainly supported by electronic technology, finance, technology services, and health technology.

Electronic technology continued to rise, advancing 0.7%, following a rise in the tech sector on Wall Street on Thursday.

TSMC, the world’s largest contract chipmaker and accounting for more than 40% of the market’s total value, gained 0.6%.

Meanwhile, MediaTek climbed 1.9%, and Delta Electronics increased 2.2%.

Nanya Technology, a major Taiwanese memory chip supplier, rose 0.2%.

However, traders awaited a speech by Fed Chair Kevin Warsh at the Jackson Hole Symposium later today for guidance on the Fed’s monetary policy decision at its upcoming meeting.