Taiwan's Taiex hits record intraday high as tech stocks advance

Taiwan's benchmark Taiex rose to a record intraday high of 48,601.53 on Tuesday, driven by gains in the tech sector, following an AI-driven rally on Wall Street which was supported by investor optimism over early signs of success for Meta's AI agent.

Shares of Taiwan chip manufacturing giant TSMC rose 0.40%, while MediaTek gained 7.88% and Delta Electronics rose by 2.67%. The three stocks — all semiconductor industry giants — are the largest companies by market capitalization on the Taiex index.

The Taiex intraday high on Tuesday came around three months after it hit a record high in June. Investors have been seeing overall strong growth in Taiwanese stocks so far this year, thanks to the AI boom and Taiwan's position as one of the world's most critical semiconductor and hardware supply chains.