TAIPEI (Taiwan News) — Taiwan’s benchmark stock index got off to a strong start in September, rising throughout Tuesday’s session as major technology stocks advanced.
The Taiwan Stock Exchange Capitalization Weighted Index (TAIEX) closed up 820.25 points, or 1.78%, at 46,948.72. Turnover totaled NT$1.08 trillion (US$34.1 billion), according to Taiwan Index Plus and CTEE.
All of the market’s most heavily weighted stocks ended higher. TSMC rose 1.46% to close at NT$2,440, moving back above its five-day moving average.
Foxconn added 2.4% to NT$256. Delta Electronics climbed 1.36% to NT$1,865, and ASE rose 4.45% to NT$610, according to Anue.
MediaTek hit its daily limit at NT$4,315 after Nvidia subscribed to NT$110.8 billion worth of its overseas convertible bonds. Such bonds are a form of overseas debt that can later be converted into shares in the issuing company at a set price, according to MoneyDJ and CTEE.
The bonds can be converted into MediaTek shares at NT$4,513.75 per share, 15% above the previous session’s closing price. Companies linked to MediaTek, including Asix Electronics, Airoha Technology, and IC Plus, also hit their daily limits.
Wiwynn reached its daily limit at NT$7,800, a record high, as investors positioned themselves ahead of Wednesday’s ex-rights date for the company’s stock dividend. Wiwynn will distribute about 1,982.8 new shares for every 1,000 shares held, effectively giving shareholders nearly two additional shares for every share they own.
The silicon photonics sector drew market attention as a forum on the light-based data transmission technology got underway at SEMICON Taiwan. Tyntek, Visual Photonics Epitaxy, APAC Opto Electronics, and Msscorps all hit their daily limits, while Truelight, Fiber Optic Communications, and Browave also posted gains.
Passive-component stocks recovered, led by industry leader Yageo, which advanced 4.22%. Prosperity Dielectrics rose 6.3%, while Taiwan Chinsan Electronic Industrial and Honey Hope Honesty ended higher.
Printed circuit board maker Unimicron Technology fell 2.8% to NT$971 on heavy trading volume after authorities searched its offices Friday. The company is suspected of labeling PCBs made in China as Taiwan-made products, according to SETN and Liberty Times.
Other PCB makers moved higher, with Kinsus Interconnect Technology adding 6.72%. Gold Circuit Electronics, Zhen Ding Technology Holding, and Phoenix Pioneer Technology also posted significant gains.
Securities analyst Chang Chen-hao (張陳浩) said the TAIEX is approaching its previous record high even though TSMC, the stock with the greatest influence on the index, has not moved significantly. He said the market could reach a record level next month, according to CTEE.
E.Sun High-Tech Fund Manager Lin Che-yu (林哲宇) said average trading volume in recent sessions has risen above the monthly average. Although volume remains below the more than NT$1.3 trillion recorded in June, the market has been able to absorb selling pressure from investors looking to break even or take profits as the index neared its previous high.
Lin recommended that investors gradually increase their holdings when the broader market pulls back to around its monthly moving average. Chang suggested watching the quantum computing, silicon photonics, and robotics sectors.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.