TAIPEI (Taiwan News) — Taiwan’s stock market closed higher Wednesday, buoyed by gains in key technology and commodity stocks, even as investors remained cautious due to US tariff policies and upcoming company earnings reports.
The Taiwan Capitalization Weighted Stock Index, or TAIEX, rose 164.74 points to end at 22,527.01, the highest level of the day. Turnover totaled NT$310 billion (US$10.6 billion), according to CNA and CTEE.
TSMC closed up 0.93% at NT$1,090. Foxconn ended at NT$161, an increase of 1.26%, while MediaTek gained 6.69% to finish at NT$1,355 following positive assessments from foreign analysts.
Copper-related stocks recorded notable increases after US President Donald Trump proposed a 50% tariff on copper imports. This resulted in a 17% rise in New York copper futures, marking the largest single-day increase since 1988.
First Copper Technology ended the day up 7.92%, and Co-Tech Development reached the daily limit. The Jko Dow Jones Copper ER Futures ETF closed at NT$31.29, up 11.83%, with turnover more than 50 times higher than the previous session.
Exchange-traded funds, or ETFs, are investment funds that track market indices and trade on exchanges like stocks. The Jko ETF primarily invests in copper futures.
In other developments, China’s Ministry of Commerce on Tuesday added eight Taiwanese companies, including Aerospace Industrial Development Corporation and Lungteh Shipbuilding, to its export control list. Despite the announcement, shares remained relatively stable, with Lungteh Shipbuilding gaining over 1%.
Several stocks responded to recent revenue disclosures. Silicon Integrated Systems, an integrated circuit design firm under United Microelectronics Corporation, reported a year-on-year revenue increase of over 14 times for June. The company’s shares reached the daily limit of NT$49.5 shortly after the market opened.
LandMark Optoelectronics also reached the daily limit of NT$348. The company reported June consolidated revenue of NT$184 million, reflecting an 81.49% increase from the same period last year.
Other silicon photonics-related stocks showed moderate gains. Elite Advanced Laser rose 2.54%, Browave increased 4.60%, and Fiber Optic Communications ended 0.72% higher.
Silicon photonics integrates optical and electronic components on a single chip, offering advantages in speed, power efficiency, and lower latency for data transmission.
InoPac Investment Service noted Taiwan’s stock market has steadily risen since mid-June, with technical indicators remaining strong. However, with major US companies set to report earnings later this month, large investors may remain cautious.
Trading volumes have been relatively light and the market’s direction is expected to hinge on upcoming earnings reports and investor briefings.
This information is not intended as personalized financial advice. Investors are encouraged to conduct their own research and analysis before making investment decisions.
