TAIPEI (Taiwan News) — Taiwan’s stock market hit a record high Monday morning.

By 10 a.m., the Taiwan Capitalization Weighted Stock Index (TAIEX) had risen 97.3 points to 24,431.78, surpassing the previous intraday peak of 24,416.67 set on July 11 last year.

The market opened slightly lower as TSMC shares dipped 10 points to NT$1,170 (US$39) but quickly recovered to NT$1,180 on strong buying, per CNA. Gains in MediaTek, which rose NT$40 to NT$1,410, also supported the broader market, with technology stocks leading early trading.

Upstream glass fiber fabrics used in printed circuit boards saw stronger demand amid supply constraints. Taiwan Glass rose more than 7% intraday, while Eternal Materials and Shinkong Synthetic Fibers advanced over 6%. Fiberglass is a key material for printed circuit boards, which are used in most electronic devices.

Stocks tied to battery backup units (BBUs) also gained as next-generation artificial intelligence servers entered mass production. Stl Technology, Dynapack International Technology, and Advanced Energy Solution Holding each climbed more than 5%. BBUs provide power during outages and are increasingly in demand to meet AI systems’ growing energy needs.

Copper-clad laminate prices continued to rise in mid-August, reflecting strong demand for the base material in printed circuit boards. Iteq hit its daily trading limit at NT$129, while Nan Ya Plastics and Taiwan Union Technology gained more than 8% and 7%, respectively.

Co-packaged optics stocks also advanced on AI-driven demand. Win Semiconductors and Ennostar hit daily trading limits as CPO technology, which integrates optics and silicon in a single package, supports next-generation bandwidth and power requirements.

Market trading is ongoing.