Taipei: Shares in Taiwan soared to new heights, surpassing the 30,000-point mark for the first time, as Taiwan Semiconductor Manufacturing Co. (TSMC) set a new closing record amid positive sentiment towards its high-end processes, dealers reported. The Taiex, which is the benchmark index of the Taiwan Stock Exchange, climbed 755.23 points or 2.57 percent to close at 30,105.04, fluctuating between 29,779.70 and 30,339.32 throughout the day. The total turnover amounted to NT$765.81 billion (US$24.40 billion), marking the second highest level since May 12, 2021, when it reached NT$782.83 billion. According to Focus Taiwan, TSMC, the most influential stock in the market, surged 5.36 percent to end at NT$1,670.00, significantly contributing around 680 points to the rise in the Taiex and boosting the electronics index by 3.42 percent. The surge in TSMC's shares came as investors anticipated continued benefits from the global demand for its advanced processes, particularly after the initiation of mass production of its 2-nanometer process during the ongoing AI boom. Other notable performances in the tech sector included MediaTek Inc., a smartphone IC designer, which increased by 3.74 percent to close at NT$1,525.00. Additionally, ASE Technology Holding Co., specializing in IC packaging and testing services, gained 2.13 percent to finish at NT$263.50. Benefiting from TSMC's increased capital expenditure, suppliers like United Integrated Services Co. rose 3.33 percent to close at NT$992.00, while Scientech Corp. climbed 3.39 percent to end at NT$350.50. Hon Hai Precision Industry Co., an AI server manufacturer and TSMC's closest rival in market value, saw its shares rise by 1.08 percent to close at NT$234.50. Kevin Su, an analyst at Hua Nan Securities, noted that large-cap tech stocks were the driving force behind the electronics sector, which accounted for approximately 73 percent of the total market turnover. Su pointed out that while electronics stocks garnered most of the market's attention, non-technology stocks sh owed signs of weakness, except for a resilient financial sector, which edged up 0.52 percent. Within this sector, Cathay Financial Holding Co. increased by 1.73 percent to NT$76.50, and Fubon Financial Holding Co. rose 1.67 percent to NT$97.20. Conversely, certain old economy stocks experienced declines. Formosa Plastics Corp. fell 1.17 percent to NT$38.00, and Nan Ya Plastics Corp. decreased by 2.46 percent to NT$55.60. Additionally, China Steel Corp. dropped 0.80 percent to NT$18.60, while Tung Ho Steel Corp. managed a slight increase of 0.94 percent to NT$64.60. Su further mentioned that potential interest rate cuts by the U.S. Federal Reserve could enhance liquidity, offering additional support to global markets. Despite the Taiex's overall increase, foreign institutional investors recorded a net sale of NT$7.64 billion worth of shares on the main board on Monday, as reported by the TWSE.