Late TSMC rally boosts TAIEX to a record highFLUSH WITH CASH: The index has repeatedly hit record highs because of a buildup of liquidity, which has also bolstered tech and petrochemical shares, an analyst saidStaff writer, with CNAThe TAIEX yesterday closed at a record high after early losses were reversed by a late rally in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares on hopes that it will have positive news at its investor conference on Thursday, dealers said. The TAIEX closed up 93.35 points, or 0.60 percent, at the day’s high of 15,557.30 on turnover of NT$323.597 billion (US$11.36 billion). Photo: Taipei Times file photoForeign institutional investors sold a net NT$1.59 billion of shares, Taiwan Stock Exchange data showed. TSMC shares rose 0.69 percent to close at NT$584. The market is expecting TSMC to forecast about a 15 percent year-on-year increase in sales this year.

Source: Taipei Times January 11, 2021 16:00 UTC