Taiwan's stock market surged to close at 45,518 points, breaking through the 45,000-point mark — good news for investors — driven mainly by TSMC.

• The benchmark index rose 397 points, a gain of 0.88%, with turnover of about NT$860 billion, comfortably holding the 45,000-point level.
• TSMC saw a wave of large buy orders near the close and finished up NT$20; its revenue has hit record highs for three consecutive months, and the third quarter is expected to reach another peak.
• The "Big Five" electronics makers strengthened, with Compal hitting its daily limit up and Inventec rising on strong second-quarter earnings, while Yageo, the leading passive-component maker, also posted record revenue.
• Foreign investors have been net buyers for several days running, with capital clearly flowing back into Taiwanese stocks and supporting the upward momentum.

External pressures remain, however: U.S. stocks closed lower for two straight days, with large tech names such as Alphabet weakening as they restructure their AI divisions, weighing on the S&P 500; uncertainty in the Middle East persists, with Iran reiterating that the Strait of Hormuz will not reopen for now, and oil prices continued to climb, reigniting concerns about inflation and interest rate hikes.

Outlook: In the near term, Taiwanese stocks still need to work through the overhang of trapped selling pressure built up since late April, and whether the market can keep advancing will depend on the direction of U.S. equities and oil prices.