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High-Flying Taiwan Stocks Set for Record Amid Tech Rebound

  • Taiex is up almost 22% so far this year, beating Asian peers
  • Sector rotation, retail enthusiasm fuel rally in local stocks
The Taiwan Semiconductor Manufacturing Co. (TSMC) headquarters in Taiwan.
The Taiwan Semiconductor Manufacturing Co. (TSMC) headquarters in Taiwan.Photographer: I-Hwa Cheng/Bloomberg
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One of Asia’s top-performing stock markets flirted with a record high, thanks to a global rebound in technology shares and enthusiasm from retail investors.

Taiwan’s Taiex Index rose as much as 0.5% before paring gains to 0.1% as of Friday’s close, boosted by MediaTek Inc. The benchmark is up almost 22% so far this year, poised for a third annual gain and outperforming most Asian peers.