Tech Surge May Boost Taiwan Stock Market

(RTTNews) - The Taiwan stock market rebounded on Monday, one session after halting the two-day winning streak in which it had jumped more than 850 points or 2.9 percent. The Taiwan Stock Exchange now sits just beneath the 27,700-point plateau and it may extend its gains on Tuesday.

The global forecast for the Asian markets is upbeat on strength from the technology stocks and on hopes for easing tariffs. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The TSE finished sharply higher on Monday following gains from the finance, technology and cement companies.

For the day, the index rallied 386.26 points or 1.41 percent to finish at 27,688.63 after trading between 27,412.45 and 27,768.27.

Among the actives, Mega Financial collected 0.48 percent, while CTBC Financial dipped 0.16 percent, First Financial shed 0.69 percent, Fubon Financial rose 0.19 percent, E Sun Financial sank 0.77 percent, Taiwan Semiconductor Manufacturing Company jumped 2.07 percent, United Microelectronics Corporation improved 0.77 percent, Hon Hai Precision soared 5.30 percent, Catcher Technology skyrocketed 9.78 percent, MediaTek gained 0.75 percent, Delta Electronics strengthened 1.60 percent, Novatek Microelectronics rallied 2.10 percent, Formosa Plastics eased 0.13 percent, Nan Ya Plastics perked 0.24 percent, Asia Cement added 0.27 percent and Cathay Financial and Largan Precision were unchanged.

The lead from Wall Street is strong as the major averages opened higher on Monday and remained in the green throughout the trading day, ending near session highs.

The Dow surged 515.97 points or 1.12 percent to finish at 46,706.58, while the NASDAQ jumped 310.57 points or 1.37 percent to end at 22,990.54 and the S&P 500 rallied 71.12 points or 1.07 percent to close at 6.735.13.

The rally on Wall Street came after reports said the Trump administration is quietly watering down some of the tariffs that underpin the president's signature economic policy.

Apple (AAPL) also led the markets higher, with the tech giant surging 3.9 percent to a new record closing high. The jump by Apple came after Loop Capital upgraded its rating on the company's stock to Buy from Hold due to strong demand for the iPhone 17 series.

Positive sentiment was also generated in reaction to comments from National Economic Council Director Kevin Hassett, who said the ongoing government shutdown could end this week.

Crude oil edged lower on Monday as traders assess recent IEA reports of an oil market surplus in 2026. West Texas Intermediate crude for November delivery was down $0.10 or 0.17 percent at $57.44 per barrel.

Closer to home, Taiwan will provide September numbers for export orders later today; in August, they had surged 19.5 percent on year.