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Taiwan shares at end at new high, led by electronics sector gains

05/27/2024 06:08 PM
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CNA file photo
CNA file photo

Taipei, May 27 (CNA) Shares in Taiwan closed at a new high on Monday, edging above the 21,800-point mark on the back of strong performances by the electronics and shipping sectors.

The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 238.43 points, or 1.11 percent, at 21,871.34 after moving between 21,699.98 and 21,871.34. Turnover totaled NT$488.16 billion (US$15.17 billion).

By industry, the bellwether electronics sector attracted strong buying, accounting for over 70 percent of the day's turnover while rising by 1.32 percent.

Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, closed up 0.23 percent at NT$869 after hitting a high of NT$878.

iPhone assembler Hon Hai Precision Industry Co. and smartphone IC designer MediaTek Inc. -- the second and third most heavily weighted stocks -- rose by 5.11 percent and 7.53 percent, respectively.

Among artificial intelligence-related stocks, shares in AI server supplier Quanta Computer Inc. gained 2.44 percent to close at 293.5, while rival Wistron Corp. rose 1.3 percent to close at 116.5.

In the old economy sector, the transportation index jumped 2.8 percent, driven primarily by shipping stocks benefiting from rising freight rates.

The three largest container cargo shippers in Taiwan -- Wan Hai Lines Ltd., Yang Ming Marine Transport Corp. and Evergreen Marine Corp. -- rose by 9.61 percent, 6.53 percent and 1.59 percent respectively.

Meanwhile, the construction index edged up by 0.36 percent and finance industry stocks rose 0.46 percent.

(By Wu Chia-hao and Matthew Mazzetta)


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