Taiwan’s Stock Index Rises to Near Record on AI Hopes (Correct)

Taiwanese shares neared a record high, buoyed by a strong outlook for artificial intelligence and exemption from some US tariffs for major chip makers.

The Taiex benchmark rose 0.9% on Wednesday to within striking distance of its previous closing high in July 2024. During the session, it had traded above that level. The gauge is now up about 40% from an April low, driven by an advance in Taiwan Semiconductor Manufacturing Co., the world’s biggest contract chipmaker and a key supplier of Nvidia Corp.

The rally accelerated in early August as the government said some of the island’s companies, ...