Stocks in technology sectors boost TAIEX to peak levels

Taiwan Stock Market Recap: Tech Stocks Shine Amid AI Optimism

The Taiwan Stock Exchange (TAIEX) saw a mixed performance today, with tech stocks leading the way in gains, while some companies experienced losses.

In a positive turn of events, Wus Printed Circuit Co soared 10 percent, marking the maximum daily increase, to end at NT$102. Domestic proprietary traders also bought a net NT$7 million, indicating local support for the company.

Another tech giant, MediaTek Inc, bucked the trend to close 1.45 percent higher at NT$1,410. This rise could be attributed to the optimism surrounding the company's prospects.

Local investment trust firms were active, registering a net purchase of NT$1.87 billion. This investment could further boost the performance of tech stocks in the coming days.

Asia Vital Components Co also saw a significant rise, closing 7.01 percent higher at NT$1,145.

On the other hand, some tech companies faced losses. Alchip Technologies Ltd fell 1.74 percent to close at NT$4,230, while United Microelectronics Corp lost 1.94 percent to end at NT$40.4.

The smartphone brand HTC Corp, however, bucked the trend, jumping 10 percent for the second consecutive session to end at NT$51.6.

Amid optimism over artificial intelligence (AI) development, Hon Hai Precision Industry Co rose 1.45 percent to close at NT$210. This rise could be attributed to the growing interest in AI and its potential impact on the tech industry.

Foreign institutional investors bought a net NT$4.48 billion of shares on the main board yesterday, indicating continued interest in the Taiwanese market. However, no specific information was found about which institutions purchased technology stocks outside the IC business sector via futures contracts the previous day or its impact on the TAIEX index.

In conclusion, the Taiwan Stock Exchange saw a mixed performance today, with tech stocks leading the way in gains, while some companies experienced losses. The optimism surrounding AI development and continued foreign investment could bode well for the market in the coming days.