TAIPEI (Taiwan News) — Taiwan’s stock market posted significant gains Wednesday, following comments from US Treasury Secretary Scott Bessent, who signaled a potential de-escalation in tariffs between the US and China.

The Taiwan Stock Exchange Capitalization Weighted Stock Index, or TAIEX, gained 845.71 points to close at 19,639.14, marking the second-largest single-day point gain in the index’s history. Turnover totaled NT$269 billion (US$8.3 billion), per CNA and CTEE.

TSMC climbed 6.99%, closing at NT$873 (US$27). The company’s gains fueled a broader rally across the chip sector, with related equipment and material suppliers such as Kinik, C Sun, Jetwell Computer, Machvision, and Trusval Technology hitting their daily limit-up.

Foxconn rose 5.3% to NT$139. Shares of its subsidiary Foxsemicon Integrated Technology were suspended pending a major announcement, while other Foxconn-affiliated firms, including Pan-International Industrial, Usun Technology, and Marketech International, posted gains of more than 7%.

Tesla-linked stocks also joined the rally after CEO Elon Musk hinted he may step back from political engagements to focus more on company operations. First Hi-tec Enterprise hit its daily limit-up, while Hota Industrial, BizLink-KY, and Yulon Motor each rose between 4% and 7%.

CTCI rebounded strongly, hitting its daily limit-up after announcing a private placement and adjustments to its dividend policy. The stock had previously suffered four straight sessions of limit-down declines due to concerns over a struggling subsidiary.

Taishin Securities Investment Advisory Deputy General Manager Huang Wen-ching (黃文清) said recent signals suggest the major obstacles related to US-China tariffs may have passed, with remaining uncertainties tied to the outcome of negotiations. With the announcement of chip-related tariffs expected in May, the market could enter a short-term consolidation phase.

Huang added the TAIEX may react further once the exact scope and rates are confirmed. He recommended monitoring oversold stocks and watching opportunities in the sports and leisure sectors in the short term.

This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.