Taiwan chip stocks rise after Lai vows to further boost industry

President-elect says China and global society should 'cherish' island's tech success

President-elect Lai Ching-te says he will follow his predecessor's path to assure global allies that their chip production in Taiwan is safe. (Source photos by Reuters and Hiroki Endo)

CHENG TING-FANG and LAULY LI, Nikkei staff writers

January 15, 2024 13:38 JST

TAIPEI -- Stocks in Taiwan's world-leading chipmakers rose Monday after the president-elect vowed to further boost the democratic island's flagship semiconductor industry.

In the first trading day after Saturday's presidential election, the stock market rose slightly on investor expectations after the China-skeptic ruling Democratic Progressive Party (DPP) secured an unprecedented third straight presidential term.