Taiwan Stock Market Rebounds with 893-Point Gain, Rally Narrows Under 1,000 Points on Futures Settlement

(CNA reporter Chung Jung-feng, Taipei, July 15) U.S. semiconductor stocks surged and South Korean equities rallied sharply, propelling Taiwan's stock market to rebound today. TSMC led a broad advance in large-cap electronics stocks, while the Formosa Plastics Group 'Four Jewels' and biotechnology stocks showed strength. The Taiwan stock market reclaimed the 45,000-point level and the 5-day moving average at around 45,401 points, reaching an intraday high of 45,881.91 points, up 1,143.96 points. However, gains narrowed below 1,000 points in the final session due to Taiwan Futures Index (TAIFEX) settlement.

The weighted index closed up 893.64 points at 45,631.59, a 2% gain, with turnover below TWD 1 trillion at TWD 984.081 billion. The electronics index surged 1.98%, the financial index turned positive with a 0.38% gain, and the OTC index, representing small and mid-cap stocks, rose 2.21%. TSMC, the world's largest contract chipmaker, closed at TWD 2,440, up TWD 20, or 0.83%. (Editor: Yang Kai-hsiang) 1150715

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