Taiwan Stocks Jump 939 Points as Anthropic IPO Filing Revives AI Buying

Taiex Clears 47,000 as Technology Shares Rally

Taiwan's benchmark stock index jumped 939.35 points on October 28, 2026, as a rally in U.S. semiconductor shares and enthusiasm surrounding an initial public offering filing by artificial intelligence company Anthropic brought buyers back to technology stocks.

The Taiex closed Wednesday at 47,035.58, up 2.04 percent from Tuesday's 46,096.23. It traded between 46,402.79 and 47,060.46, finishing just 24.88 points below its highest level of the session. Electronics shares gained 2.48 percent, while financial shares fell 0.56 percent.

Taiwan Semiconductor Manufacturing Co. (TSMC) contributed about 200 points to the advance, but the buying reached well beyond the market's largest company. MediaTek, memory manufacturers and suppliers of components used in AI equipment posted substantial gains. Advancing stocks outnumbered declining stocks 733 to 289, with 103 unchanged.

Trading activity was more restrained than the headline gain suggested. Turnover fell to NT$722.14 billion, or about US$22.26 billion, from NT$1.03 trillion on Tuesday. Investors were also approaching a crowded October 29 calendar of U.S. monetary policy announcements, inflation data and company earnings calls.

Why Anthropic's Filing Mattered to Taiwan

Anthropic, the AI research company behind Claude, supplied the immediate spark for renewed buying. Its IPO filing brought attention to its finances and a prospective Nasdaq listing. An initial public offering is the process through which a company offers shares to public investors.

Anthropic's S-1 filing reported US$16.3 billion in revenue for the first half of 2026. It also showed US$3.9 billion in operating cash flow from January through June, compared with negative US$1.5 billion in the same period of 2025. Operating cash flow measures cash generated by normal business activities, helping investors assess how sales translate into money available to run a company.

The filing reported adjusted first-half operating income of US$1.6 billion, or about a 10 percent margin, excluding stock-based compensation expenses, non-cash charitable contributions and legal settlement expenses. Operating losses were US$693 million, while the net loss totaled US$80.7 billion, including a US$72.4 billion accounting charge reflecting the increased value of convertible notes the company had issued.

In the second quarter of 2026, Anthropic reported US$11.6 billion in revenue and US$5.6 billion in computing expenses, equivalent to US$2.08 in revenue for every dollar spent on computing.

Kerry Huang, an analyst at Concord Securities, linked the renewed buying in Taiwan to the U.S. rally and the news from Anthropic.

"After recent consolidation, local investors simply seized on a rally in the United States to pick up bargains," Huang said.

The Philadelphia Semiconductor Index rose 399.04 points, or 3.60 percent, to 11,482.51 in the preceding U.S. session. That gave Taiwanese investors a strong signal from a market closely connected to their own chip industry.

For Taiwan's suppliers, investor interest in Anthropic reaches beyond the company itself. AI services require computing equipment, which in turn requires chips, memory, circuit boards and power systems. Confidence that AI developers can generate revenue can therefore influence expectations for companies making that equipment. The final size, price and timing of Anthropic's offering were not specified.

TSMC Anchors the Advance as Other Chip Stocks Outpace It

TSMC rose 1.04 percent to NT$2,425. The contract chipmaker accounts for more than 40 percent of total market value, giving even a relatively modest percentage change considerable influence over the Taiex.

Its contribution of about 200 points represented roughly 21 percent of Wednesday's 939.35 point advance. Other companies therefore supplied most of the index's increase, even with TSMC providing a powerful anchor.

MediaTek, which designs chips used in smartphones and other devices, gained 6.94 percent to NT$4,235. Nanya Technology rose 8.16 percent to NT$477, while fellow memory supplier Winbond Electronics added 5.52 percent to NT$172. Their gains showed that buying extended across different parts of the semiconductor business.

ASE Technology Holding, which provides chip packaging and testing services, climbed more than 6 percent. United Microelectronics rose NT$5.50 to NT$128 ahead of its earnings call. Packaging and testing are the steps that prepare manufactured chips for installation and check that they work as intended.

Memory module maker ADATA Technology reached its daily price limit. Chunghwa Precision Test Tech and Genius Electronic Optical also reached their daily limits, adding to the strength across technology shares.

Power Systems, Circuit Boards and Materials Join In

Delta Electronics, a supplier of power management solutions, gained 2.65 percent to NT$1,550. Gold Circuit Electronics, which makes printed circuit boards, jumped the maximum daily 10 percent to NT$1,185. Hon Hai rose NT$4.50 to NT$251.50.

Those businesses occupy different positions in the equipment supply chain. Circuit boards connect electronic components, while power systems deliver and manage the electricity equipment needs. Their share gains showed investors buying beyond the processors most closely associated with AI.

Materials companies also attracted buyers. Huang highlighted demand for established industrial firms producing raw materials used in technology products, with Nan Ya Plastics a particular focus. Its shares surged 7.23 percent to NT$319.

Buying spread to affiliated companies. Formosa Plastics gained 1.34 percent to NT$75.40, and Formosa Chemicals & Fibre rose 1.48 percent to NT$75.50. Plastics, optoelectronics and electronic components were among the stronger areas of the broader market.

Other stocks reaching gains of 10 percent included PCL Technologies, Abocom Systems and Tai Twun Enterprise. Across the market, roughly 2.5 stocks rose for every stock that fell, based on the 733 advances and 289 declines.

Financial and Textile Shares Miss the Rally

Financial stocks fell 0.56 percent as a group, trailing the Taiex by 2.60 percentage points. Cathay Financial Holding was an exception, rising 1.32 percent to NT$115.50, but several other large financial companies declined.

Fubon Financial Holding slipped 0.62 percent to NT$161, and E. Sun Financial Holding fell 2.22 percent to NT$48.35. CTBC Financial closed NT$0.80 lower at NT$74.20, while Mega Financial declined NT$1.10 to NT$53.90.

Textile companies also weakened. Eclat Textile lost 1.70 percent to NT$317.50, and Far Eastern New Century fell 2.26 percent to NT$28.15. Elsewhere, Falcon Power and HD Renewable Energy dropped 10 percent, while Aten International fell 5.5 percent.

For investors holding a mix of Taiwanese shares, Wednesday's result depended heavily on sector exposure. A portfolio concentrated in chips and electronic components experienced a different session from one weighted toward banks or textiles.

A Strong Close Meets Lighter Trading

Wednesday's close carried the Taiex above its moving average over 60 trading days, around 46,398 points. A moving average smooths daily price changes to show the market's recent direction. Traders watch such levels because buying and selling often gather around them.

Huang described the index's move above that level and the caution visible in turnover.

"Today's gains vaulted the Taiex over the stiff technical resistance ahead of 46,398 points, the 60-day moving average," Huang said.

Turnover fell by about NT$307.86 billion from Tuesday, a reduction of roughly 30 percent. Prices rose sharply while the value of shares changing hands declined, leaving the rally supported by less trading activity than the previous session.

Huang said many investors were waiting for results from major AI businesses, including Microsoft, Alphabet and Amazon. Those results matter to Taiwanese suppliers because spending plans and demand for computing services help shape expectations for equipment orders.

The Taiwan Stock Exchange said foreign institutional investors bought a net NT$15.92 billion of shares on the main board Wednesday. Net buying means their purchases exceeded their sales by that amount.

Foreign investors had sold a net NT$8.104 billion on Tuesday. Wednesday's figure therefore represented a swing of about NT$24.02 billion toward buying. Continued foreign purchases and changes in bearish positions in Taiwan index futures were among the developments investors were watching after the rebound.

Two Sessions Show How Quickly Sentiment Shifted

Tuesday's trading had already shown substantial volatility. The Taiex initially rose more than 500 points, then fell to 45,676 before a late lift from TSMC helped it finish 54.8 points higher at 46,096.23.

Institutional investors were divided that day. Foreign investors sold a net NT$8.104 billion and proprietary traders sold NT$12.399 billion, while investment trusts bought NT$23.645 billion. Together, the three groups recorded net buying of NT$3.142 billion.

The sequence leading into Thursday's scheduled announcements was:

• October 27: The Taiex recovered from an intraday fall to close at 46,096.23, with investment trust purchases outweighing sales by foreign investors and proprietary traders.
• U.S. session before October 28 trading: The Philadelphia Semiconductor Index climbed 3.60 percent to 11,482.51.
• October 28: The Taiex gained 939.35 points to 47,035.58, and foreign institutions bought a net NT$15.92 billion.
• October 29: Investors faced scheduled Federal Reserve announcements, U.S. inflation data and earnings calls from AUO and Delta Electronics.

Wednesday's finish put the Taiex 1,359.58 points above Tuesday's intraday low. The recovery shifted attention from the struggle to hold 46,000 toward whether corporate results and foreign buying would support the higher level.

October 29 Brings Policy and Earnings Tests

The Federal Reserve's interest rate decision was scheduled for October 29 at 2 a.m. Taipei time, followed by a press conference at 2:30 a.m. Investors expected the U.S. central bank to leave rates unchanged.

Interest rates affect borrowing costs and the returns available from safer investments. For technology shares, changes in those costs can influence how much investors are willing to pay today for profits expected in later years.

U.S. September personal consumption expenditures inflation data were also scheduled for October 29 at 8:30 p.m. Taipei time. The core measure, which excludes food and energy prices, was expected to rise 0.3 percent from the previous month. Investors watch it for clues about price pressures and the Fed's room to change rates.

AUO and Delta Electronics were due to hold earnings calls on October 29. Delta's update would follow a strong session for its shares, giving investors a company announcement against which to assess the renewed buying in power equipment suppliers.

Taiwan's rally brought together stronger U.S. chip shares, optimism about AI revenue and a return to foreign net buying. The next scheduled announcements would give investors more information about both the cost of financing growth and the business demand behind it.

Key Points

• The Taiex gained 939.35 points, or 2.04 percent, to close at 47,035.58 on October 28, 2026.
• Anthropic's IPO filing and a 3.60 percent rise in the Philadelphia Semiconductor Index helped revive buying in AI suppliers.
• Anthropic's S-1 reported US$16.3 billion in first-half 2026 revenue, US$3.9 billion in operating cash flow and an adjusted operating margin of about 10 percent, alongside a US$693 million operating loss and a US$80.7 billion net loss that included a US$72.4 billion accounting charge.
• TSMC contributed about 200 index points, while MediaTek, memory companies and electronic component suppliers posted larger percentage gains.
• Turnover fell roughly 30 percent from Tuesday to NT$722.14 billion.
• Foreign institutional investors bought a net NT$15.92 billion after selling a net NT$8.104 billion the previous day.
• Financial and textile shares lagged, despite advancing stocks outnumbering declining stocks 733 to 289.
• October 29 brought scheduled Fed announcements, U.S. inflation data and earnings calls from AUO and Delta Electronics.