Taipei-Shares in Taiwan closed up 66.77 points, or 0.61 percent, Thursday, with the weighted index finishing at 11,071.57 on turnover of NT$148.9 billion (US$5.01 billion) on the Taiwan Stock Exchange.
Following a rally on Wall Street Wednesday, the bellwether electronics sector surged 1.17 percent, while textile and foodstuff shares rose 1.15 percent and 0.47 percent, respectively.
Cement stocks and construction shares fell 1.16 percent and 1.11 percent, respectively, while financial shares slid 0.18 percent, paper-making stocks dipped 0.85 percent, and petrochemical stocks dropped 0.15 percent.
Losers outnumbered gainers 278 to 515, with 117 shares remaining unchanged.
Taiwan Semiconductor Manufacturing Corp. (TSMC), the world's No.1 chip maker and the most heavily weighted stock on the local market, gained 2.69 percent to end at NT$248.5, helping the broader market to finish at the highest level in nearly 28 years.
Hon Hai Precision Co., an iPhone assembler and second only to TSMC in terms of market value, closed 0.43 percent higher at NT$93.8.
Small and medium-sized shares on over-the-counter market also performed strongly, with the index surging to 154.23 points at one point during the session, the highest since July 2014.
Market observers said games shares and wireless charging concept stocks are likely to become the new targets for investors.
The local bourse has been breaking records in recent days and is expected to maintain its surge on the back of strong world markets, as long as foreign institutional investors keep buying local shares, market analysts said.
Electronics, financial and old-economy shares are likely to lead the market's gains, on a rotating basis, they said.
Source: Focus Taiwan News Channel