Taiwan Stocks Hit Record High; NT Dollar Rises Slightly Amid AI Boom

TAIPEI, May 22 (CNA) - Driven by the AI boom and falling international oil prices, Taiwan stocks surged to a record high, breaking the 42,000-point mark. The New Taiwan Dollar (NTD) also rose for the third consecutive session, briefly touching the 31.4 level, but gains narrowed in the afternoon to close at 31.568, up 2.7 cents. The total turnover in the Taipei and Yuanta foreign exchange markets was US$2.5215 billion.

Taiwan stocks opened high and continued to climb, closing at 42,267.97 points, the first time closing above the 42,000 threshold. Foreign investors bought a net NT$76.137 billion in Taiwan stocks, the fourth-largest net purchase in history.

In the foreign exchange market, while foreign capital flowed in, the NTD's gains were capped by dollar buying from importers and government funds, as well as adjustments by the central bank. Traders noted that the NTD's rise lagged behind the stock market, and the currency is expected to continue consolidating between 31.300 and 31.700 in the short term.