TAIPEI (Taiwan News) — Taiwan’s stock market index, the Taiex, continued its surge Thursday (April 15) by pushing past the 17,000 mark and closing up 1.25 percent.

Shares moved up 210.76 points and peaked at a record high of 17,076.73 on a turnover of NT$360.96 billion (US$12.7 billion). At the opening of the session, the Taiex first fell as mixed news emerged from the United States, but it soon corrected its course to break through the previous day’s high, CNA reported.

Analysts predict the possibility of a correction on Friday morning (April 16). In the longer term, however, a positive financial mood in the U.S. and the performance of Taiwanese companies, particularly in the electronics sector, are likely to inspire more advances.

After the market closed, the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), reported a rise of 19.4 percent for its profits in the first quarter of 2021, beating market expectations, Reuters reported.