Taiex tops 40,000 points at one point Monday morning

Taipei, April 27 (CNA) Shares in Taiwan on Monday morning soared past the 40,000-point mark for the first time, as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) shares hit a record high amid optimism about global artificial intelligence development, dealers said.

At around 9:25 a.m., the Taiex, the Taiwan Stock Exchange's benchmark index, jumped 1,262.52 points to a high of 40,194.92, before the gains moderated to some extent.

As of 10.30 a.m., the Taiex had gained 964.39 points, or 2.48 percent, from Friday's closing, standing at 39,896.29 points.

TSMC, which accounts for more than 40 percent of total market value, was up 5.72 percent to NT$2,310.00, after its American depository receipts rose 5.17 percent on Friday.

The company's gains sent the electronics index up 2.95 percent on Monday morning, as investors remained upbeat about the company's business outlook during the current AI boom and shrugged off the uncertainties over the Middle East conflicts, dealers said.

Among the other tech stocks, IC packaging and testing services provider ASE Technology Holding Co. was up 0.71 percent at NT$499.50 while smartphone IC designer MediaTek Inc. had dropped 0.41 percent to NT$2,425.00, as of 10:30 a.m.

AI server maker and iPhone assembler Hon Hai Precision Industry Co. had posted gains, rising 1.58 percent to NT$225.00.