Taiwan Stocks Surge Over 600 Points, Crossing 42,000

Encouraged by falling oil prices and a strong close in the US stock market, Taiwan stocks opened high and continued to climb today, surging over 600 points in early trading to cross the 42,000 mark. TSMC, the market leader, reached a high of 2,250 TWD, up 20 TWD, before pulling back to near the flat line of 2,230 TWD. Other major stocks performed as follows: Foxconn fell 1.5 TWD to 246 TWD, MediaTek rose 220 TWD to 3,770 TWD, and Delta Electronics rose 70 TWD to 2,100 TWD. The electronics sector index rose 1.51%, the financial sector index fell 0.4%, and the OTC index, representing small and medium-sized stocks, rose 2.6%.