Taiex Jumps in Early Trading on SK Hynix, Micron, TSMC Gains
Taiwan’s Taiex stock index surged more than 800 points in early trading on Monday, driven by positive momentum in the semiconductor sector. Gains were fueled by strong performances from SK Hynix's Nasdaq rally last week and news that Micron will invest US$500 million in GlobalWafers’ new Texas manufacturing facility. The moves boosted investor confidence in Taiwan’s chip industry.
Taiex Surges on Tech Stock Rally
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REPORTER:
Taiwan's stock market opened strong on Monday, with the Taiex benchmark index surging past 46,000 points before levelling off.
The rally follows last week’s gains on the Nasdaq by South Korean memory chip maker SK Hynix. It also comes after news that US tech giant Micron plans to invest $500 million US dollars in Taiwan's GlobalWafers' new manufacturing facility in Texas. Market heavyweight TSMC also opened higher, leading gains across the broader technology sector during early trading.
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REPORTER:
Taiwan's stock market opened strong on Monday, with the Taiex benchmark index jumping by over 800 points.
The rally follows last week’s gains on the Nasdaq by South Korean memory chip maker SK Hynix. It also comes after news that US tech giant Micron plans to invest $500 million US dollars in Taiwan's GlobalWafers' new manufacturing facility in Texas. Market heavyweight TSMC also opened higher, leading gains across the broader technology sector.
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REPORTER:
Taiwan's stock market opens strongly on Monday, jumping up over 800 points.
The rally followed SK Hynix's gains on the Nasdaq last week and Micron's $500 million investment plan to support Taiwan-based GlobalWafers' advanced silicon wafer manufacturing facility in Texas. Market heavyweight TSMC also opened higher, leading gains across the broader technology sector.
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