TAIPEI (Taiwan News) — Taiwan’s stock market rebounded Friday (Aug. 9), with the weighted index gaining 598.9 points to close at 21,469.

There was a turnover of NT$45.5828 billion (US$14.08 billion). Gains across the electronics, finance, and traditional industry sectors narrowed the week’s decline, per CNA.

The market opened higher, surpassing the six-month moving average of 21,138 points as investors reacted positively to a rally in US stocks. The Taiwan market had fallen below the 20,000 mark in its largest single-day drop this week amid concerns over the US economy and Middle East tensions.

Taiwan Semiconductor Manufacturing Company (TSMC) filled the gap left by the sharp decline on Aug. 2 and closed at NT$934 (US$28.85), up NT$31(96 cents) for the week. Nvidia's financial performance and future prospects will be key for the market, according to analyst Wang Chao-li (王兆立).