On Monday Taiwan stocks opened higher and kept rising. The TAIEX closed at 49,712.04, up 1,236.30 points (2.55%), a record close, on trading volume of about NT.1508 trillion. TSMC closed at NT$2,575, up 3%, and is estimated to have added about 555 points; Delta Electronics, MediaTek, Nan Ya Plastics and Elite Material together added about 240 more. The three major institutional investors were net buyers of NT$76.449 billion, with foreign investors, including mainland Chinese, buying a net NT$71.897 billion. Foxconn reported September revenue of about NT.1586 trillion, up 25.7% month on month and 38.42% year on year, the first time a listed company in Taiwan has topped NT trillion in a month; third-quarter revenue was about NT$3.0269 trillion, up 47.12% year on year, above market expectations. Several electronics and AI supply-chain companies also posted record September revenue. Largan said its third-quarter revenue rose from the previous quarter but fell year on year, and that October momentum is flat with September.
Two things happened at once: the index hit a record, and company revenue hit a record. The first reflects money flows and expectations; the second is a number already booked. Together they explain why foreign investors added to their buying on Monday. But concentration is also high: TSMC alone accounted for more than half of the day’s gain, so the index is easily swayed by a few heavyweights. With 50,000 less than 300 points away, sentiment can also run hot.
If you buy a Taiwan stock ETF on a regular schedule, these funds are heavily weighted toward TSMC and AI names, so a record index also means your holdings are just as concentrated. If you are a salaried worker, this figure has nothing to do with your pay, but the feeling that “the index is higher than my monthly pay” shows the gap between share prices and everyday life.
AI demand is real: Foxconn topped NT trillion in a single month, and several supply-chain firms keep setting records. Revenue is a fact, not imagination. Consecutive foreign net buying also shows that international money still recognizes Taiwan’s place in the AI supply chain.
The rally is concentrated in a few heavyweights and AI names. Volume is large, but the number of advancing stocks has not necessarily widened. Companies such as Largan have not posted record revenue, so a record index does not mean every industry is doing equally well.
Watch two numbers: whether trading volume stays above NT trillion, and whether foreign investors keep buying for consecutive days. If volume shrinks while the index still climbs, the force behind chasing prices is weakening. As for 50,000 itself, it has no fundamental meaning; it is only a psychological level. DailyDrop’s advice is not to decide on round numbers but on your own funding plan and risk tolerance.
TWSE trading data and three-major-institutional-investor statistics (Economic Daily News, ETtoday, Yahoo Finance Taiwan reprints) · Foxconn filing (CNA, Anue, Yahoo Finance Taiwan, Liberty Times) · PTS (intraday record, best performer in Asia this year) · Liberty Times (TSMC ADR, stocks in focus) · Largan filing (CNA, Liberty Times) · Oct. 5 · Foxconn revenue figures of 1.15 trillion and 1.16 trillion differ only by outlets’ rounding; this edition uses the filed figure of NT.1586 trillion
Business · MarketsSource ✓ TWSE trading data, Foxconn filing · Press ✓ 6 outlets
TAIEX Jumps 1,236 Points in a Day to a Record 49,712; Foxconn’s September Revenue Tops NT$1 Trillion for the First Time
The index is just 288 points short of 50,000, and TSMC alone added about 555 points. Foxconn is the first listed company in Taiwan to book monthly revenue above NT$1 trillion; its third-quarter revenue rose 47% year on year.
On Monday (Oct. 5) Taiwan stocks opened higher and kept climbing. The TAIEX closed up 1,236.30 points, or 2.55%, at 49,712.04, a record close, leaving it 287.96 points short of the 50,000 mark. It touched about 49,770 at the intraday high and 48,575 at the low. With trading volume at about NT$1.1508 trillion, the largest since the start of October, the market topped NT$1 trillion for the first time this month. TSMC closed at NT$2,575, up NT$75 (3%); media estimate that this one stock added about 555 points to the index. Heavyweights such as Delta Electronics, MediaTek, Nan Ya Plastics and Elite Material added about 240 points more between them. The three major institutional investors were net buyers of NT$76.449 billion combined: foreign investors, including mainland Chinese, bought a net NT$71.897 billion, investment trusts sold a net NT$6.395 billion, and dealers bought a net NT$10.948 billion. Public Television Service (PTS) reported that Taiwan’s market is, for now, the best performer in Asia this year.
Foxconn (Hon Hai) added to the mood. That day it reported September consolidated revenue of about NT$1.1586 trillion, up 25.7% month on month and 38.42% year on year, the first time a listed company in Taiwan has booked more than NT$1 trillion in a single month. Third-quarter revenue was about NT$3.0269 trillion, up 47.12% year on year and above the market’s earlier forecast of a little over NT$2.8 trillion. Foxconn said cloud networking products were driven by AI server orders, while consumer smart products benefited from new launches. Its full third-quarter results are due on Nov. 12. Many other electronics firms also posted record September revenue, including Iteq, Elite Material, Global Unichip, ASPEED, Taiwan Union Technology and Acer e-Enabling Service Business, a sign that order momentum across the AI supply chain is still strong. Not everyone agrees: Largan Precision’s third-quarter revenue rose from the previous quarter but fell year on year, and the company said October momentum is flat with September. It is a reminder that the rally is concentrated in AI-related names and is not broad-based.
On the external front, US stocks closed higher last Friday, the Nasdaq set a record, and TSMC’s ADR rose about 2.75%, lifting Taiwan’s open on Monday. The New Taiwan dollar gained 4.2 cents on Monday to close at 31.788. October TAIEX futures closed up 1,280 points. Analysts share one caution: the closer the index gets to a round number, the more volatility tends to grow, and whether volume can stay above NT$1 trillion is the key to a push toward 50,000. DailyDrop adds that revenue is a fact that has already happened, while a share price reflects expectations about the future; the two cannot simply be equated.
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By the numbers
49,712.04TAIEX close, up 1,236.30 points (2.55%) on the day, 287.96 points short of 50,000 (TWSE data; Economic Daily News, ETtoday)
NT$1.1586 trillionFoxconn’s September consolidated revenue, the first monthly figure above NT$1 trillion for a listed company in Taiwan (Foxconn filing; CNA, Anue)
NT$71.897 billionNet buying by foreign and mainland Chinese investors that day; the three major institutional investors bought a net NT$76.449 billion combined (TWSE; Economic Daily News)
The FBI arrested a 34-year-old woman of Chinese descent at Los Angeles International Airport. The US Attorney’s Office for the Central District of California said she is charged with working for the Chinese government without registering as the law requires. According to the indictment as cited by media, she was directed by two suspected Chinese officials to watch President Lai Ching-te’s eldest son, Lai Ting-yu, and his family: photographing the area around their home, logging their comings and goings, the family’s routine and the license plates of two cars, and reporting back by WeChat. Some reports say she traveled to Seattle on instructions. She was about to leave for Shanghai when arrested. The Presidential Office responded on the 5th, calling it a savage act of textbook transnational repression. FBI Director Patel said hostile foreign forces will not be allowed to operate safely in the United States. The defendant has not been convicted, and the case remains in court proceedings.
Transnational repression cases alleged in the past have mostly targeted overseas dissidents. This time the target is the family of a Taiwanese leader, and it happened on US soil. The case touches US counterintelligence law, US-Taiwan security cooperation, and Taiwanese society’s alertness to Chinese interference in elections and cognitive warfare.
For ordinary people the direct effect is small. But the case is a reminder that personal data, schedules and home addresses can also be used as pressure. If you have relatives living abroad for a long time, it is worth talking about privacy settings on social media.
A rare case of the US side acting first. It shows US-Taiwan cooperation against infiltration is working, and lets outsiders see China’s methods.
An indictment is a one-sided allegation, and the defendant has not been convicted. Until a court rules, not every detail should be treated as settled, and still less should the case be pinned on Beijing’s overall policy.
Three things to watch next: how the detention hearing is decided, whether the indictment reveals the identity of those directing her, and whether Taiwan’s officials explain the protection arrangements for President Lai’s family. Until that information appears, we write only what two or more outlets have cited.
CNA · PTS · United Daily News · Liberty Times · World Journal (all Oct. 4–5) · US Attorney’s Office statement and CBS report as relayed by the outlets above · we have not directly read the full indictment
Security · Cross-borderPress ✓ 5 outlets · case details from the indictment and law enforcement sources
FBI Arrests Woman of Chinese Descent at Los Angeles Airport, Suspected of Watching President Lai’s Eldest Son on China’s Orders; Presidential Office: Textbook Transnational Repression
The US Federal Bureau of Investigation (FBI) arrested a 34-year-old woman of Chinese descent at Los Angeles International Airport last Sunday (Oct. 4, US Pacific time). She was about to fly to Shanghai. She is charged with acting as an agent of the Chinese government without registering as the law requires, and with watching, on instructions, the eldest son of President Lai Ching-te, Lai Ting-yu (賴廷與), and his family. According to wire reports and Taiwanese media citing the indictment, she was directed by two suspected Chinese officials. She photographed the area around the home, logged the family’s comings and goings and daily routine, and recorded the license plates of two cars, reporting back through WeChat. The family lives in the Seattle area. The Presidential Office issued a statement on the 5th calling it “a savage act of textbook transnational repression.” FBI Director Kash Patel said the United States will not let hostile foreign forces operate at ease on its soil. The defendant has not been convicted; details will have to wait for the court proceedings.
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Word of the day
Transnational repressionSECURITYActs in which a government reaches across borders to surveil or threaten overseas dissidents, their families or particular communities, or to force them to return home. Victims often fall silent as a result, and the host country’s judicial sovereignty is challenged. What is unusual in this case is that the target is the family of another country’s leader.