Taipei, Jan. 19 (CNA) Foreign institutional investors registered net purchases of NT$80.1 billion (US$2.55 billion) on Friday, the second highest record on Taiwan's main board, with shares of contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) attracting the most buying interest.
The Taiwan Stock Exchange's (Taiex) benchmark weighted index ended up 453.73 points, or 2.63 percent, at 17,681.52 on turnover of NT$423.17 billion on Friday.
The net buying amount of NT$80.1 billion by foreign institutional investors exceeded the prior second-highest record of NT$72.2 billion set on Jan. 30, 2023, and trailed only the NT$125.2 billion net buying on Dec. 28, 2005.
On Friday, foreign institutional investors bought a net 112.955 million TSMC shares, pushing up the company's market capitalization to NT$16.23 trillion, an increase of NT$985.4 billion from a day earlier.
Its stock also rose 6.46 percent to close at NT$626.
The strong buying interest in TSMC shares came one day after TSMC CEO C.C. Wei (魏哲家) said in an investor conference that the chipmaker is expected to enjoy a year-on-year sales growth of 21-26 percent in 2024.
The surge on Taiex extended to other tech firms, such as Wistron Corp., Quanta Computer, Inventec Corp. Wiwynn Corp. and Gigabyte Technology.
The tech stock gains, along with a relief from the depreciation concerns of the New Taiwan dollar against the U.S. dollar, are favorable for boosting confidence and are expected to drive the index up further, dealers said.
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