Morning World: TSMC Shares Cross NT$2,500 Threshold, Pushing Taiwan Stocks to Record Highs

Driven by a 6.94% jump in its ADR, TSMC shares surged on the 22nd, closing at NT$2,510, breaking the NT$2,500 barrier for the first time. This rally propelled the Taiwan Stock Exchange (TAIEX) to multiple records, with the index rising by 1,276.31 points to close at 47,741.51. Meanwhile, the New Taiwan Dollar weakened against the US dollar, closing at 31.631.

The Army conducted combat readiness exercises in Taoyuan, utilizing Cloud Leopard armored vehicles to verify troop responses in urban combat scenarios. The Ministry of National Defense also announced that the mandatory reserve training (education recall) is now standardized to a 14-day cycle, shifting focus to practical tactical drills and rifle rapid-response training to bolster combat readiness.

In diplomatic affairs, U.S. and Iranian representatives completed a first round of talks in Switzerland, reaching a consensus to aim for a final agreement within 60 days to ensure maritime security in the Strait of Hormuz. Analysts noted that the conflict has cost the U.S. Department of Defense roughly $40 billion, with wage growth currently trailing inflation.

Taiwan's Ministry of Health and Welfare (MOHW) released data on the top 10 causes of death, with cancer remaining the leading cause for the 44th consecutive year. Lung, pancreatic, and ovarian cancer mortality rates increased. The MOHW is currently coordinating with financial regulators to address debt-related suicides among the 45-64 age group.

Typhoon Migkuk is intensifying, with projections showing it passing near eastern Taiwan on the 25th. Residents are advised to prepare for continued hot weather, while monitoring a developing tropical system near Guam that could potentially evolve into Typhoon Higos.

Finally, the resignation of British Prime Minister Keir Starmer has triggered political instability, amid broader voter fatigue concerning traditional party structures. Additionally, former Federal Reserve Chairman Alan Greenspan has passed away at the age of 100, leaving behind a complex legacy regarding his 18-year tenure and subsequent economic crises.