India, Oct. 2 -- Taiwan's benchmark TAIEX index extended its recent rally on Friday, rising to a fresh record level as investors bought energy, manufacturing and process-industry stocks.

The index was around 48,429, up 76 points or 0.2% by noon, following gains in the previous two sessions. The broader market also tracked overnight gains on Wall Street as US Treasury yields eased.

Energy Stocks Drive Taiwan Market Higher

The energy and mineral sector was among the strongest performers, gaining 6.1%. Formosa Petrochemical jumped 5.6%, supported by higher oil prices and stronger refining margins.

Formosa Chemicals also gained 5.5%, while Elite Material advanced 2.9%. The latest rise puts the TAIEX on course for a 0.8% weekly gain, which...