Taiwan's stock market is on a tear, with the main index jumping over 1,200 points at the open and futures crossing 50,000 for the first time — great news for local investors, though the speed of the climb is a warning sign.

• A weak US jobs report killed expectations of higher interest rates, sending US stocks up and lifting all of Asia.
• Taiwan futures broke 50,000 points before 10am, running nearly 900 points ahead of the cash market.
• TSMC, MediaTek, Delta and Foxconn all climbed, and Taiwan now has 55 stocks trading above NT$1,000 each.
• Nvidia hitting a record high after five flat months fired up the whole chip sector.
• Analysts see the index reaching 50,000 within days and possibly 53,000 by year-end.

Outlook: More upside is expected into the fourth quarter, but after a run this fast, sharp swings are likely — watch upcoming earnings calls from TSMC, Largan and Nanya.