TAIEX
Taiwan index climbs near record high as AI boost lifts Asian shares
Taiwan's stock index rose 0.7 per cent to near its all-time peak as Asian markets extended gains for a sixth straight session, driven by sustained investor interest in artificial intelligence applications.
MSCI's broadest index of Asia-Pacific shares excluding Japan added 0.3 per cent, reflecting broad-based strength across the region. South Korean stocks gained 0.5 per cent, with Samsung rising over 2 per cent, while Chinese blue chips eased 0.5 per cent.
Japanese markets were closed for a holiday, but Nikkei futures traded at 66,735, significantly above the previous Friday's cash close.
Oil prices declined further, with Brent futures down 0.9 per cent to $98.37 a barrel and US crude falling 1.3 per cent to $89.32 a barrel, following reports of increased supply from the Middle East, including the restart of Saudi Arabia's East-West Pipeline and potential resumption of exports from Yanbu port.
Market participants also monitored diplomatic developments, including claims of progress in US-Iran talks in New York and ahead of Iranian President Masoud Pezeshkian's UN General Assembly address, where possible engagement with the US was anticipated.
In technology, strong consumer adoption of Meta's Muse agent, which topped US app download charts for two weeks, continued to support demand for data hardware and semiconductor stocks, which recorded six consecutive days of gains.
Meanwhile, SoftBank's $10 billion-plus debt deal attracted over $20 billion in indications of interest, positioning it as one of the largest junk bond offerings ever.
In bond markets, the dip in oil prices supported Treasury futures, keeping 10-year yields below the 5.0 per cent threshold, while two-year yields rose to 4.7879 per cent — their highest since mid-2024 — reflecting expectations of further Federal Reserve tightening.
Futures markets indicated a 54 per cent chance of a Fed rate hike in October, with 33 basis points of tightening priced in by year-end.
The US dollar strengthened against the euro, sterling, and Canadian dollar, reaching multi-week highs, while holding steady against the yen at 157.60, with traders cautious about potential Japanese intervention beyond 160.00.
In commodities, gold eased 0.3 per cent to $4,341 an ounce, while copper remained near record highs after climbing 18 per cent year-to-date.
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