Taiwan's benchmark stock index snapped a two-day losing streak on Monday, surging 702.85 points, or 1.59 percent, to close at 44,928.76 on turnover of NT$847.37 billion. The rally followed a strong Friday session on Wall Street, where the Nasdaq gained 1.3 percent and the Philadelphia Semiconductor Index jumped 2.56 percent.
Institutional investors were heavy net buyers, with the three major categories of institutional investors accumulating a combined NT$731.67 billion in net purchases. Foreign and mainland Chinese investors accounted for NT$517.15 billion of that total. Among individual stocks, foreigners were the top buyers of China Steel, Innolux, and Walsin Lihua, while selling shares of China Airlines, Nan Ya Plastics, and Fubon Financial.
The market is looking ahead to Taiwan Semiconductor Manufacturing Company's July revenue report due later Monday, as well as upcoming U.S. consumer and producer inflation data scheduled for Wednesday and Thursday. The TSE opened Monday up 314.8 points and traded in a range of roughly 680 points through the session.