TAIPEI (TVBS News) — Taiwan's stock market surged 461.37 points to close at 27,993.63 Monday (Oct. 27), marking a 1.68% increase driven by eased U.S.-China trade tensions. The Taiwan Stock Exchange reached an intraday high of 28,196.33, setting a new record.
Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) led gains, opening at a historic high of NT$1,500 (around US$48.86) and closing NT$30 (around US$0.98) higher at NT$1,480 (around US$48.21), a 2.07% rise. Foxconn (鴻海), the world's largest electronics manufacturer, climbed NT$7.5 (around US$0.24) to NT$246.5 (around US$8.03).
The DRAM sector, computer memory chip manufacturers, benefited from rising prices, with Nanya Technology (南亞科), Winbond (華邦電), and ADATA (威剛) hitting their daily limit, Taiwan's maximum allowed price increase. Yageo (國巨) also hit its daily limit, closing at NT$248.5 (around US$8.09), bolstered by acquisitions and price hikes.
Investor sentiment improved as U.S. Treasury Secretary Scott Bessent disclosed a preliminary framework for a U.S.-China trade agreement. The framework includes China's plan to suspend rare earth export controls for a year. Taiwan's stock market remained above the 28,000 mark throughout most of the session.
Reports suggest E.SUN Financial may acquire Mercuries Life Insurance (三商美邦人壽), a Taiwanese insurance company. Mercuries Life Insurance's stock reached the daily limit, closing at NT$7.39 (around US$0.24). The contrasting performances highlight market reactions to potential corporate restructuring. ◼ (At time of reporting, US$1 equals approximately NT$30.7)