"Asian Stocks" Asia-Pacific stock markets generally rise, Taiwan, South Korea, and Singapore stocks hit new highs, Taiwan Semiconductor rises 3% to reach a new high

Major stock markets in the Asia-Pacific region rose broadly this morning (16th), with Taiwan, South Korea, and Singapore hitting record highs, and technology stocks in the region increasing. Taiwan Semiconductor (2330.TW) reached an all-time high.

The People's Bank of China announced several interest rate cuts, with the Shanghai Composite Index down 9 points or 0.2%, closing at 4,103 points; the Shenzhen Component Index fell 13 points or less than 0.1%, closing at 14,293 points. The Hong Kong Hang Seng Index dropped 71 points or 0.3%, closing at 26,851 points, with a turnover of HKD 140.8 billion. The Taiwan Weighted Index rose 608 points or 2%, closing at 31,418 points, reaching an intraday high of 31,462 points. Taiwan Semiconductor's quarterly results and capital expenditure forecast exceeded expectations, with its stock price rising 3% to NT$1,740, hitting a new high of NT$1,745 during the session. MediaTek rose 1.7%.

The Japanese Nikkei Index fell 47 points or less than 0.1% in the afternoon, closing at 54,062 points. Semiconductor stocks Advantest and Disko rose 1.8% and 2%, respectively, while Raytek rose 2.6%. SoftBank fell 0.2%. The South Korean Composite Stock Price Index rose 18 points or 0.4%, closing at 4,816 points, reaching an intraday high of 4,855 points. Samsung Electronics rose 2.7%, and Doosan Heavy Industries rose 5.4%.

The Indian Nifty 50 Index rose 176 points or 0.7%, closing at 25,842 points. IT service providers Infosys, Wipro, and Mahindra Technology rose between 3.2% and 5.1%. India's largest IT outsourcing company, Tata Consultancy, rose slightly by 0.3%.

The Australian S&P/ASX 200 Index rose 38 points or 0.4% at the close, closing at 8,900 points. Westpac rose 2.1%, while BHP fell 1.2%. The New Zealand Stock Exchange 50 Index rose 58 points or 0.4% at the close, closing at 13,718 points. The Singapore Straits Times Index rose 11 points or 0.2%, closing at 4,844 points, reaching an intraday high of 4,846 points, with real estate stock City Developments rising 2%. DBS, UOB, and OCBC Bank rose between 0.5% and 0.8%. In other Southeast Asian markets, Malaysia and the Philippines fell 0.3% and 0.2%, respectively, while Thailand rose 0.3%, and the Hanoi and Ho Chi Minh stock markets in Vietnam rose 0.3% and 1.3%, respectively. The Indonesian stock market is closed