Taiwan shares hit a new high amid gains in the electronics sector

Taipei, May 27 (CNA) Taiwan’s stock markets hit a new high on Monday, breaching the 21,800-point mark on strong performance by the electronics and shipping sectors.

Taiex, a weighted index of the Taiwan Stock Exchange (TWSE), rose 238.43 points, or 1.11 percent, at 21,871.34, after moving between 21,699.98 and 21,871.34. Turnover was NT$488.16 billion ($15.17 billion).

On the industry side, the dominant electronics sector saw strong interest, accounting for over 70 percent of daily turnover, with an increase of 1.32 percent.

Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most valued stock on the local market, closed up 0.23% at NT$869 after hitting a high of NT$878.

iPhone Assembler Hon Hai Precision Industry Co. and smartphone chip designer MediaTek Inc. – companies ranking second and third in terms of share value – increased by 5.11% and 7.53%, respectively.

Among the stocks of companies related to artificial intelligence, shares of AI server provider Quanta Computer Inc. rose 2.44 percent to close at 293.5, while rival Wistron Corp. rose 1.3 percent to close at 116.5.

In the old sector of the economy, the transport index increased by 2.8%, mainly due to shares of shipping companies benefiting from rising freight rates.

The three largest container carriers in Taiwan – Wan Hai Lines Ltd., Yang Ming Marine Transport Corp. and Evergreen Marine Corp. – they achieved an increase of 9.61%, 6.53% and 1.59%, respectively.

Meanwhile, the construction index rose 0.36 percent and financial stocks rose 0.46 percent.