Taiwan Indices Hit Record Highs Amid US Market Surge and Geopolitical Tension

The Taiwan stock market continued its bullish trajectory for a third consecutive session, surging nearly 1,125 points, or 3%, to close at a record high above the 37,600-point mark. The market is expected to maintain this positive momentum into Thursday's session. This rally aligns with a broader trend of optimism in global markets, following a strong lead from the United States. On Wall Street, both the NASDAQ and S&P 500 reached record closes, with the NASDAQ ending at 23,001.78 and the S&P 500 at 7,137.90. The Dow Jones Industrial Average also climbed 0.69% to finish at 49,490.03. In Taiwan, technology stocks were the primary drivers of growth. MediaTek saw a significant jump of 9.81%, while Hon Hai Precision rose 4.74% and United Microelectronics Corporation gained 3.15%. Novatek Microelectronics also spiked 4.09%, though some components like Largan Precision tumbled 2.27%. Despite the equity rally, volatility remains high in the energy sector. West Texas Intermediate (WTI) crude for June delivery climbed 3.95% to $93.21 per barrel. This spike follows news that while President Donald Trump extended a ceasefire with Iran, the U.S. will maintain its blockade of maritime traffic at Iranian ports, fueling concerns over supply disruptions in the Strait of Hormuz. Investors are now shifting focus to domestic economic indicators, with Taiwan set to release March data for industrial production and unemployment. For context, February figures showed industrial production up 17.83% and a jobless rate of 3.33%.