On September 22, Taiwan's benchmark Taiex index soared to a record intraday high of 48,601.53, propelled by robust gains in the technology sector. This rally followed an AI-driven surge on Wall Street, with investor optimism fueled by early signs of success for Meta's AI agent [1]. Key semiconductor stocks led the advance: TSMC shares rose by 0.40%, MediaTek surged 7.88%, and Delta Electronics climbed 2.67%. These companies are the largest by market capitalization on the Taiex index, underscoring the dominance of the tech sector in Taiwan's equity market [1].
The Taiex's new intraday high comes just three months after its previous record in June, reflecting continued strong growth in Taiwanese stocks throughout the year. The AI boom and Taiwan's critical role in the global semiconductor and hardware supply chain have been major drivers of this performance. According to Standard Chartered, the technology sector comprises about 88% of the Taiex, with the semiconductor industry accounting for most of that share. Taiwan is responsible for producing over 90% of the world's most advanced semiconductor chips, specifically those measuring 7 nanometres and smaller [1].
HSBC data from May indicates that Taiwan has surpassed Canada to become the world's sixth-largest stock market by global equity-market capitalization rankings [1]. Market participants are also closely monitoring Taiwan's August export orders, which are due later today. UOB expects the export orders print to remain resilient at 63.0% year-on-year, up from 61.9% in July, highlighting sustained AI-related demand [1].
CONCLUSION
Taiwan's Taiex index reached a record intraday high, driven by strong performance in the tech and semiconductor sectors. The country's pivotal role in advanced chip production and ongoing AI-related demand continue to bolster market sentiment. Investors are watching for further confirmation of resilience in export orders, which could sustain the positive momentum.