Taipei, Sept. 16 -- Shares in Taiwan closed at a new high Tuesday as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) set a closing record after major U.S. indexes finished at all-time highs overnight on hopes the U.S. Federal Reserve will soon kick off a rate cut cycle, Focus Taiwan reported, citing dealers.

The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 272.48 points, or 1.07 percent, at 25,629.64 after moving between 25,335.46 and 25,664.81 on turnover of NT$442.09 billion (USD 14.68 billion).

"With the Taiwan dollar continuing to appreciate against the U.S. dollar on Fed rate-cut hopes, the Taiex was on an uptrend driven by ample liquidity riding fund inflows," Hua Nan Securities analyst ...