24.04.202604:30:28UTC+00Taiwan Shares Jump Past 38,000 Mark

The TAIEX, Taiwan’s benchmark stock index, jumped 902 points, or 2.4%, to 38,624 in Friday morning trading, rebounding from the previous session’s decline on renewed optimism over AI infrastructure development. The broader market crossed the 38,000-point threshold in early trade for only the second time.

Sentiment was further buoyed by data released on Thursday showing industrial production surged 28.7% in March, the fastest pace of growth since May 2020. Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), which represents more than 40% of the market’s total capitalization, climbed 4.3%.

Investors largely brushed aside the impasse in US–Iran ceasefire talks and focused on sustaining the market’s upward momentum. Gains were led by electronic technology and technology services shares, with Phison Electronics, Nan Ya Printed Circuit Board, Ventec International Group, and Chenbro Micom each hitting the daily limit, rising 10%.