Taiwan Stocks Rally as Tech Shares Rise Amid Optimism for Middle East Peace

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By TaiwanPlus

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Taiwan’s benchmark Taiex surged alongside a strong US market performance on Wednesday, boosted by gains in major tech companies including TSMC, MediaTek and Foxconn. The rally followed a drop in oil prices to a three-week low as reports boosted optimism around Middle East peace talks and a possible reopening of the Strait of Hormuz. Other Asian markets, including Japan’s Nikkei and South Korea’s Kospi, also made gains amid continued market volatility.

Taiex and Other Markets Climb

 

REPORTER:  
Taiwan's stock market has surged following solid US stock performance and renewed hopes of stability in the Middle East.

 

REPORTER:  
The Taiex, Taiwan's benchmark stock index, rose with US markets, enjoying gains for tech heavyweights TSMC, MediaTek, and Foxconn.

 

REPORTER:  
This comes as oil prices fell to a three-week low amid reports of progress in Iran war peace talks, with one US official saying the Strait of Hormuz could reopen imminently.

 

REPORTER:  
Japan's Nikkei and South Korea's Kospi also jumped, continuing a series of wild swings in East Asian markets.

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