TAIPEI (TVBS News) — Taiwan stocks surged on Friday (Nov. 8) as the market opened with over 200-point increase, reaching 23,608.11 points, and continued to rise nearly 300 points to 23,699 points.
Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) saw its stock rise by NT$20 at the opening, reaching NT$1,085, and briefly hitting NT$1,090 during trading. Key stocks like Hon Hai (鴻海), MediaTek (聯發科), and Quanta (廣達) also experienced gains, driving the electronics index up by more than 1% and contributing significantly to the market's ascent.
This upswing follows the U.S. Fed's decision on Thursday to cut interest rates by 0.25 percentage points, marking the second consecutive rate cut to curb inflation. The Fed's move, which aligns with market expectations, lowered the federal funds rate to 4.5%-4.75%, maintaining the upward momentum of U.S. stocks.
Although the Dow Jones Industrial Average dipped slightly by 0.59 points, the Nasdaq index jumped 286 points, closing at a new high of 19,269.46 points.
