Taiwan’s benchmark stock index closed above the 10,000 level for the first time since the peak of the dot-com bubble as a global rally for technology shares boosted foreign purchases. Net inflows into Taiwan equities have swelled to more than $15 billion in the past 12 months, the most among 10 Asian markets tracked by Bloomberg outside of China. Apple Inc. suppliers, such as Taiwan Semiconductor Manufacturing Co., have been favorite targets amid optimism over demand for the next iPhone.
“Apple is a driver to Taiwan to breach the 10,000 mark,” said David Lu, Taipei-based vice president at Hua Nan Securities Co. “Fundamentals will continue to improve in the second half.” TSMC rose to a record. The island’s most valuable company is now worth $178 billion. Apple this week became the first U.S. company with a market capitalization of more than $800 billion. source: bloomberg