Taiwan stocks open higher as TSMC rises and AUO leads turnover
Taiwan's stock market is climbing again after a big rally, good news for local investors but with rising costs at home starting to worry ordinary people.
- The main index opened up and swung within a hundred points, holding near record territory after a huge 775-point jump the day before.
- Foreign investors poured in the fourth-largest single-day buying spree on record, with all three major institutional groups buying at once.
- TSMC and MediaTek rose, while display makers led the action — AUO jumped over 2% and became the day's most-traded stock.
- Taiwanese people expect prices to keep rising, with most seeing higher living costs and inflation above 2% a year from now.
- Small investors keep piling in through regular monthly stock plans, which hit the second-highest monthly total ever in August.
Outlook: US markets reopen after the Labor Day break and Apple's product launch this week should set the tone for tech shares, while inflation worries stay in the background.