TAIPEI (Taiwan News) — Consumer confidence in Taiwan climbed in September as stock market optimism hit a record high for the year, National Central University said Tuesday.

The consumer confidence index rose to 64.69 points, a four-month high, per CNA. The rebound was fueled by a sharp gain in stock-investment confidence, though most other indicators slipped, per Anue.

The stock-investment sub-index surged 20.48 points to 51.68, making it the main driver of the overall recovery. NCU Research Center for Taiwan Economic Development Director Wu Ta-jen (吳大任) said booming AI demand has lifted Taiwan’s stock market, with TSMC topping NT$1,300 (US$42) and the broader index reaching an intraday high of 26,394 points.

Wu warned, however, that “people are still too excited about the stock market.” He cited uncertainty over US trade policy, including Commerce Secretary Howard Lutnick’s “50-50” chip-manufacturing proposal and a Section 232 probe that could result in semiconductor tariffs.

Other consumer indicators told a weaker story. Household finances, price levels, job prospects, and durable-goods purchases all declined in September, with the biggest drop in the durable-goods index, down 3.83 points to 90.7.

Real-estate sentiment also weakened, with the purchase-timing indicator falling 3.79 points to 88.94, its lowest in more than five years.