Taiwan Stock Index Climbs to Record High on Optimism Over AI
- The Taiex closed 3% higher, surpassing January 2022 peak
- Key Nvidia supplier TSMC is biggest contributor, surging 7.9%
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Taiwan’s stock benchmark surged to its highest level on record, as expectations of booming demand for artificial intelligence technology drove investor sentiment.
The Taiex climbed 3%, surpassing a January 2022 peak, as the market reopened after more than a week of Lunar New Year holiday. The bulk of the gain came from a 7.9% jump in Taiwan Semiconductor Manufacturing Co., the island’s largest stock and the key provider of foundry services for Nvidia Corp.