Taiwan Stock Exchange surges 939 points to reclaim 47,000 level

The Taiwan Stock Exchange experienced a significant rally on October 28, with the weighted index climbing 939.35 points, or 2.04%, to close at 47,035.58. This surge follows a period of volatility and was bolstered by strength in the U.S. semiconductor sector, specifically the Philadelphia Semiconductor Index, and optimism surrounding AI-related industries.

Key sectors driving the market included chipmakers, display panels, memory, and PCB manufacturers. Notable performers included TSMC, which rose 1.04%, and MediaTek, which surged 6.94%. The electronics index rose 2.48%, while the financial index saw a slight decline of 0.56%.

Market activity showed a shift in institutional sentiment. The three major legal entities collectively purchased NT$29.895 billion in stocks. Notably, foreign investors reversed their recent selling trend, recording a net purchase of NT$15.922 billion. Trading volume for the day was approximately NT$722.1 billion.