Taiwan's stock market surged to a record close as chipmakers and memory stocks rallied, and Powerchip Semiconductor (PSMC) was the biggest winner — good news for its 660,000 shareholders.

• The Taiwan index jumped nearly 900 points to close above 47,000, led by the big foundries and memory makers.
• Foreign investors, investment trusts, and dealers together bought over NT$116 billion of stock in a single day.
• PSMC has risen three days straight, up more than 10%, after the three big institutional groups bought 86,000 lots of its shares.
• Foreign buying was concentrated in memory and chip names: Winbond, Nanya Technology, UMC, King Yuan Electronics, and Macronix all made the top-10 list.

Outlook: With institutional money flooding into memory and foundry stocks, the rally in PSMC and its peers looks set to continue in the near term.