TAIPEI (TVBS News) — Taiwan's stock market surged on Tuesday (Dec. 17) as investors reacted to gains in the U.S. markets and strong performances in the tech and shipping sectors. The Taiwan Stock Exchange opened 91 points higher, reaching 23,175.91 points in early trading.
TSMC (台積電) increased by NT$5 or 0.46%, closing at NT$1,090. Wan Hai (萬海) saw a 2.26% rise to NT$81.4, Evergreen (長榮) increased NT$4 to NT$230, and Yang Ming (陽明) edged up NT$0.4 to NT$79.3.
Electronics stocks showed robust growth, with UMC (聯電) rising NT$1.15 to NT$62.60, MediaTek (聯發科) climbing NT$10 to NT$1,395, and Hon Hai (鴻海) gaining NT$1 to NT$183. Shipping stocks also performed well, driven by increased freight rates and cargo volumes in the fourth quarter.
This week marks a significant period for central banks, with the Fed expected to cut interest rates by a quarter-point, followed by decisions from Japan, Sweden, and the U.K. The tech sector fueled Monday's rise in the Nasdaq, which closed at a record high. Apple increased by 1.17%, Alphabet surged 3.54%, and Tesla soared 6.14%.
