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Taiwan Equities Clear Outperformers Today

TAIWAN

Taiwan's TAIEX Index rose 1.6% on Wednesday. A few positive tech related stories contributed to the outperformance. Earlier reports stated that Japan PM Kishida will meet with various technology company heads, including TSMC. The aim will be to foster investment and partnerships. The other report was Mitsubishi UFJ Morgan Stanley citing a May 15 Taiwan media report around potentially better tech related demand due to the IPhone 15 launch (see this link from Bloomberg for more details).

  • These moves have helped keep USD/TWD steady around 30.80 level despite USD/CNH rallying through 7.0100 this afternoon.

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