TAIEX rebounds 1.6% to highest since July 16 as softer U.S. jobs data lifts sentiment

Taiwan's TAIEX rose 703 points, or 1.6%, to 44,929 on Monday, snapping a two-session decline and reaching its highest level since July 16, then added 192 points, or 0.4%, to close at 45,121 on Tuesday as technology and manufacturing shares advanced. Monday's rebound followed a Wall Street rally after weaker-than-expected U.S. jobs data eased concerns about further Federal Reserve rate hikes, while Tuesday's gains came despite a softer U.S. market lead. TSMC rose 0.4% on Monday and 0.6% on Tuesday, MediaTek gained 1.5% on both days, Delta Electronics jumped 10.0% on Monday, and Yageo Corp. climbed 6.6% on Tuesday. Higher oil prices and U.S. inflation data due later in the week kept attention on the Fed's next policy decision.

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