Taiwan's Taiex Hits Record Intraday High, Led by Chips, Electronics Stocks
Dow Jones
Sep 22
0426 GMT - Taiwan's Taiex jumps 0.9% to hit a record intraday high of 48601.53, led by gains in circuits and semiconductors. Mediatek rises 4.0%, United Microelectronics is 2.2% higher and Alchip Technologies adds 2.1%. Risk sentiment in the markets has improved, as "optimism around Meta's new personal assistant Muse boosted sentiment around the next phase of AI together with general positive tones out of U.S.-China talks," Michael Wan of MUFG says in a note. Other consumer-facing firms in China could roll out similar features, and should the consumer AI agents story be successful, "this could well be the spark towards the next billion users and perhaps the next phase of AI growth," Wan says. "We continue to be positive on the AI story for Asia."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.